Barcelona, Spain-based core technology infrastructure provider for the global insurance and reinsurance industry, inari, raised USD 5.2 million in seed funding. The round took place on September 7, 2023. Caixa Capital Risc, through Criteria Venture Tech, led the financing for the company. CDTI, a public organization for technology development in Spain and a leading industry partner also joined in the round.
Purpose of financing for Inari
With the latest financing, Inari strengthens its position as a global leader in (re)insurance technology services. It seeks to further propel its longer-term growth strategy. The company intends to expand the teams in both Barcelona as well as London. The company has plans to venture into new territories, expanding its geographical footprint. It also seeks to build more features based on its innovative and best-in-class technology to fit its current (re)insurance customers and new customers’ needs.
What the company’s official has to add
Frank Perkins, Chief Executive Officer at inari, said, “Today’s announcement validates inari’s vision, value and year-on-year track record as part of our mission to revolutionize the (re)insurance industry, establishing inari as a core technology provider that is trusted and valued by the insurance industry and is attracting talent and investors. The funding will support enhancements to our product offering, enable us to add to our team’s insurance industry and technology expertise and expand globally.”
He further added, “I am incredibly proud of our team and would like to thank them for what we have achieved together. It is our people’s hard work, resilience, expertise, creativity and innovation that has driven and continues to drive our successes, and we are equally thankful for the modern and forward-thinking client base that has supported inari since its beginning. I am highly optimistic about what the future holds as we strive to create solutions that are truly transformative and provide world-class outcomes for our client’s operational needs.”
What the leader has to add
Xavier Álvarez, director of Tech Funds at Caixa Capital Risc, said, “inari’s innovative approach to insurance infrastructure has the power to redefine how we perceive risk and resilience in the insurance sector. Our investment signifies our belief in their vision and our commitment to fostering innovation in industries ripe for change. We’re excited to join this journey with inari to help them grow and revolutionize this critical industry segment.”
About inari
Frank Perkins, Veronique Gob, Jochi Jimenez and Teresa Madariaga launched the company in 2017. The company provides modern core technology infrastructure for Insurers, Reinsurers, Managing Agents, Managing General Agents (MGAs) and Lloyd’s Syndicates. It further enables them to increase operational efficiency, improve data insights and streamline connectivity across multiple systems.
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