Gradient Ventures backs Axle’s ‘Plaid for insurance’ approach to data verification

Date:

Share post:

Cameron Duncan, co-founder and CEO of Axle, stated to TechCrunch that the company has developed a universal API for insurance data and is adopting a “Plaid for insurance” strategy.

The company saw double-digit customer and revenue growth after its launch a year ago, and it has expanded its carrier network to over a hundred carriers. Axle currently has USD 4 million in seed money. Gradient Ventures served as the lead investor in the round, which also included participation from existing investor Y Combinator, Soma Capital, Contrary Capital, Rebel Fund, BLH Ventures, and a number of angel investors, including members of the Plaid founding team and former Cox Automotive executives.

The co-founders plan to use the additional funding to increase hiring, broaden carrier coverage, and add new markets and use cases.

Read more: Gradient Ventures backs Axle’s ‘Plaid for insurance’ approach to data verification

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Best Practices for FinTech Compliance

In financial tech (FinTech), following rules is important. FinTech firms operate in a fast-changing world. They must know...

UK Businesses Modernising to Enhance Security and Counter Fraudulent Activity

American Express today released new research revealing that UK businesses are investing in modernising their payment systems to...

LiquidityBook Redefines Trading Technology Again with Release of LBX PMS 2.0; Accelerates Multi-Asset Capabilities via Acquisition of Messer FS

LiquidityBook, a leading provider of cloud-native buy- and sell-side trading solutions, announced today the general availability of LBX...

PayPal, Venmo Credit and Debit Cards Are Now Available to Add in Apple Wallet

PayPal Holdings Inc. announces that customers now will get the option to add their eligible PayPal and Venmo...