Kin raises $145M Series D to provide shared-ownership insurance

Plus: Crediclub raises $80M to offer loans to underserved and SMEs in Mexico

Inside.com Part of   Network October 31, 2022

Kin has raised a $145M Series D debt round to provide shared-ownership insurance. The company offers an insurance platform where owners share the underwriting profit. More: The company has raised a fixed $100M and has another $45M available, contingent on certain objectives that the company has to reach. Runway Growth Capital and the Avenue Venture Opportunities Fund led the round, with participation from Hudson Structured Capital Management, Aquarian Investments, Group 1001, and Skyline Capital. The startup's platform, named the Kin Interinsurance Network, aims to disrupt the $120B insurance market. Customers save, on average, $780 by using this platform. Kin is based in Chicago, Illinois.

Crediclub had raised an $80M funding round to offer loans for underprivileged communities and SMEs in Mexico. The company has approved $2B in loans so far. More: The company offers group, individual, and productive personal loans, savings, and investments, a digital wallet with a  built-in buy-now-pay-later feature, and a funding program for small and medium-sized businesses. This funding round, pending approval from regulators, was backed by L Catterton, IFC, Sarona, etc. Crediclub has provided 2.3 million credits. The minimum amount that can be lent is $3,000, while the maximum amount is $75,000, with women making up the majority of the beneficiaries from the loan program. The company is based in Mexico City.

Monteris Medical has raised $73M in a Series D and debt funding round to provide minimally invasive brain surgery. The company's proprietary tech is being used by over 100 U.S. hospitals. More: Out of the overall funding amount Monteris Medical raised, $35M is in equity, and the rest is structured as debt. Monteris offers its proprietary technology named NeruBlate.The surgery is entirely robotic.  The surgery eliminates dangerous tissues by using laser thermotherapy. Recently, the company has also begun the process for the clinical trial of REMASTEr, a special program dedicated to treating cancers that have metastasized.  The company is based in Minnetonka, Minnesota.

Hazel Health has raised a $51.5M Series C1 funding round to expand its network of healthcare facilities. The company so far has reached 2.5 million children. More: The company offers pediatric and mental health services across 14 states and 3,000 schools, reaching 10% of all K12 schools in the country. Tao Capital Partners, Owl Ventures, Firework Ventures, Memorial Hermann, and Carrie Walton Pennerthrough. Hazel Health has consistently raised funds, landing $112.5M since its inception in 2015. The company is based in San Francisco.

Today's funding 💵 Hardware OTI Lumionics (Canada), manufactures products that are ready for mass use using quantum computing and AI: $55M B led by Technology Ventures, Samsung Venture Investment Corporation, UDC Ventures, Anzu Partners, and Lee Lau. SaaS Invygo (UAE), offers car rental and leasing options through its platform: $10M A led by MEVP. Fintech Money Fellows (Egypt), an app where a group of people save money together and then use it in turn: $31M B led by CommerzVentures, Middle East Venture Partners, and Arzan Venture Capital. Real estate tech Smallsmall (Nigeria), offers renters access financing and provides landlords a vetting tool: $3M debt and equity Seed by Oyster VC, Asymmetry Ventures, Vivaz, and Niche Capital. Gaming ForeVR Games (California), a video game studio that builds games for VR platforms: $10M A led by Lobby Capital with participation from Bessemer Venture Partners and Galaxy Interactive.  Robotics Fox Robotics (Texas), sells autonomous forklift trailer unloaders: $20M growth led by BMW I Ventures, with participation from Zebra Technologies, Japan Airlines & Translink Innovation Fund, Foothill Ventures, Menlo Ventures, ENIAC Ventures, and SignalFire. Artificial Intelligence Reclaim.ai (Oregon), a calendar/time management app for Google Calendar that uses Ai to create productivity reports: $9.5M by Yummy Ventures, Character.vc, Flying Fish, Operator Partners, etc. Web3/Crypto Zebra Labs (China), creates metaverse characters that can be purchased as NFTs and used as Intellectual Property: $5M growth led by NetDragon and Sumitomo.

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Arbër is an Inside writer who also has experience in entrepreneurship. He has experience covering Consumer Tech, Venture Capital, NFTs, Crypto, etc. Arbër holds a Bachelor's degree in Business from XAMK University in Finland. When he is not reading(and writing) business news, he chooses to watch sports or anime...and then read news about sports or anime. Editor Aaron Crutchfield is based in the high desert of California. Over the last two decades, he has spent time writing and editing at various local newspapers and defense contractors in California. When he's not working, he can often be found looking at the latest memes with his kids or working on his 1962 and 1972 Fords.

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