InsurTech inari raises $5.2m Seed Round to explore new markets

Inari, a core technology infrastructure provider for the global insurance and reinsurance industry, has raised $5.2 million in funding as part of its Seed round led by Caixa Capital Risc, through Criteria Venture Tech.

The funds reinforce Inari’s longer-term growth strategy, which includes expanding the teams in both Barcelona and London, and venturing into new territories to expand its geographical footprint. It also contributes to building more features based on Inari’s innovative technology to fit its current (re)insurance customers and new customers’ needs.

Founded in 2017, inari helps its clients operate as next-generation insurance and reinsurance organizations both for greenfield operations and long-established companies. The inari client base is worldwide in geography and includes MGAs, Insurance Carriers, Lloyd’s Syndicates, and Reinsurance companies in Europe, the Lloyd’s and London markets, the US, Asia, and Bermuda.

Inari provides core insurance policy administration, underwriting dashboard, and bordereaux management systems for MGAs, Insurance Carriers, Lloyd’s Syndicates, and Reinsurance companies worldwide.

Three investors were part of this year’s round. The leader, Caixa Capital Risc, the venture capital arm of Spanish holding company CriteriaCaixa, alongside CDTI, a public organisation for technology development in Spain, and a leading industry partner.

“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 attracting talent and investors,” said Frank Perkins, Chief Executive Officer at inari. “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.

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.”