Congrats to Descartes Underwriting, our Insurtech champion!

Today, Descartes Underwriting, who has been part of our portfolio since their first round in January 2019, announces a $120m Series B. We’re thrilled to join this massive funding round led by Highland Europe alongside Eurazeo, with participation of new investors (Seaya Ventures, Mundi Ventures) and existing ones (Cathay Innovation, Serena Capital).

On the way to becoming a category leader in corporate insurance worldwide

Back in January 2019 they were only a few passionates. In September 2020, when Descartes Underwriting raised its $18.5m Series A, the team counted 20 data scientists and engineers. Today, they are 50+, still coming from all over the world. The company now serves 200 corporate clients — including many Fortune 500 companies — in Europe, Australia and North America.

As of today, 95% of Descartes’ turnover happens abroad. The fresh money should help the company expanding its activities in Asia and in South Amercia, by opening new offices in Hong Kong and Madrid.

Backing ambitious teams from Day 1

At BlackFin Tech, we’re super impressed by how this brillant team achieved all those milestones in such a short period of time. We’re also proud of being the first VC fund to have backed this Insurtech gem, in January 2019.

As good news comes in pairs, Descartes Underwriting just joined French Tech’s Next 40, alongside other portfolio company Agicap.

Congrats to Tanguy, Kevin, Sébastien, Violaine & all their teammates, and long live to Descartes Underwriting!