Highland Europe, Eurazeo lead Descartes EUR 120m fundraise

The round comes 18 months after Descartes' USD 18.5m Series A. 

The company's existing investors, Serena, Cathay Innovation and Blackfin Capital Partners, will also participate, alongside new entrants Seaya Ventures and Mundi Ventures. 

Descartes says it is disrupting the insurance industry with a growing product offering that covers the full spectrum of natural catastrophes and emerging risk exposures. It will use the new financing to scale up its approach to corporate and public entity risk exposures, grow its technology platform, expand into new lines of business, target larger deals, and continue global expansion. 

Company
Descartes is an insurance technology company that specialises in climate risk for corporates. 

Its parametric insurance products leverage new data sources combined with AI to challenge traditional insurance models, the company said. 

Descartes is structured as a managing general agent backed by a panel of tier-one risk carriers, and can provide USD 200m in capacity per policy.

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