May 3, 2017 / 2:02 PM / 3 months ago

Startup Next Insurance raises $29 mln in Munich Re-led funding

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JERUSALEM, May 3 (Reuters) - U.S.-Israeli digital insurance company Next Insurance said on Wednesday it raised $29 million in an early funding found led by Munich Re/HSB Ventures.

U.S. insurance companies Markel and Nationwide, as well as existing investors, also participated.

Next, which offers its services to small and medium-sized businesses through partnerships with various insurance companies, said the financing will go towards building its own insurance products and expanding its offerings to new business sectors.

Founded in 2016, Next -- which previously received $13 million in seed funding -- is based in Silicon Valley, with its research and development in Israel. (Reporting by Steven Scheer)

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