Insurtech Waffle Closes $5M Seed Funding Round

Waffle, a New York based insurtech startup, raised $5m in seed funding.

Source: FINSMES | Published on May 21, 2021

The round was led by Verve Ventures, with participation from BetterLabs Ventures and Techstars.

The company plans to use the funds to continue to expand operations and its business reach.

Led by Quentin Coolen, CEO & Co-Founder, Waffle is a consumer platform which connects users with nationwide insurance providers in minutes in all 50 States. Its “YOU” insurance includes policies to cover car, home, life, travel, pet, digital life, identity, friends and family.

The launch is kicking off with Pet, Travel, Life, Cyber, and Renter’s insurance. Auto and Home insurance will be available to users by the end of June.

Partners include MassMutual’s Haven Life Agency (Life), Blink by Chubb (Cyber), Crum & Forster Pet Insurance (Pet), Arch RoamRight (Travel), Clearcover (Auto), and Boost (Renter’s). The technology behind Waffle includes a proprietary holistic risk model named Galileo, a risk mitigation engine named Y.O.D.A. (Your Own Derisking Assistant), and a proprietary onboarding engine.