Embedded insurtech Sure raises mega-round as fintechs are pressured to diversify

US-based Insurtech Sure secured a $100 million Series C funding round, giving it a $550 million valuation, per TechCrunch.

The insurtech launched as a software as a service platform in 2016 to provide financial institutions and fintechs with digital insurance infrastructure.

Its service modernizes and digitizes the entire insurance value chain so clients can offer customers a digital experience without paperwork or human interactions.

Using Sure’s API lets clients bring new insurance products to market quicker and cheaper. Its clients include Chubb, Revolut, Betterment, and Farmers Insurance.

Without disclosing hard revenue figures, Sure reported it has been profitable since 2019 and has grown its annual recurring revenues by threefold every year.