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Canadian Insurtech Apollo Closes C$13.5 Million Funding Round January 11, 2021
Apollo Insurance Solutions Ltd., the Toronto-based online insurance company, announced it has closed an oversubscribed C$13.5 million (US$10.6 million) Series A financing round, which exceeded its original C$4 million (US$3.2 million) target.
Gravitas Securities Inc. led the financing which resulted in a shareholder base that included Trisura Group Ltd., an international specialty insurance provider operating in the surety, risk solutions, corporate insurance and reinsurance segments of the market, and Liberty Mutual Insurance, the sixth largest global property and casualty insurer based on 2019 gross written premium.
Launched in April 2019, Apollo said it offers the largest selection of online insurance in Canada. The funds generated through the financing will be used to fuel the company’s expansion of insurance offerings to become the “everything store” for s