Montreal-based Equisoft, an insurance and investment software developer, today announced that it raised $125 million in venture equity. It’s a large amount made more significant by the fact that the investment climate for insurtech vendors is growing increasingly challenging. A recent Gallagher Re report found that quarterly insurtech funding for Q4 fell to the lowest level since Q1 2020, decreasing 57% quarter on quarter from $2.35 billion in Q3 to $1.01 billion in Q4.
Seven million dollars of Equisoft’s new tranche came from Investissement Québec and the government of Québec, with the remainder coming from Export Development Canada and Fondaction. CEO Luis Romero says that the funding will be put toward “global expansion,” both “organically and thr...
