Toronto insurtech startup Foxquilt has raised a $8 million Series A financing round led by Luge Capital. Also participating in the round were AmTrust Financial, Extreme Venture Partners, and Side Door Ventures.
Foxquilt, which provides small businesses with customized insurance products, intends to use the funds to hire more talent and invest in product development and further expand its business operations across the US and Canada.
“Our goal at Foxquilt has always been to make life easier for small business owners. Whether you’re a sole proprietor or part of a larger enterprise network or marketplace, our technology-powered suite of products is made to digitize the insurance process and take one thing off an overfilled plate,” said Mark Morissette, CEO and co-founder of Foxquilt.
Morissette added that the Series A funding will further accelerate growth and enable the startup company to reach “even more business owners” with their “customer-centric and individualized approach.”
“Excited to announce that Luge Capital led the $8M Series A round in Toronto-based Foxquilt, with participation from AmTrust Financial Services, Extreme Venture Partners and Side Door Ventures. Looking forward to working with the whole team and co-founders Mark Morissette and Karim Jamal,” Luge Capital’s David Nault wrote on LinkedIn.