Foxquilt is bringing its Canadian-made financial technology offerings to the Big Apple.
The Toronto-born digital insurance provider says small business owners in New York can now tap into Foxden, the company’s proprietary embedded insurance tech.
Foxquilt uses multi-operational rating and digital underwriting algorithms to provide custom-built insurance solutions for small business owners across Canada and the U.S., such as NYC, which the firm describes as a marketplace rich with underserved business owners.
“We are thrilled to bring Foxquilt’s innovative insurance solutions to the vibrant New York marketplace,” says Josh Reznick, Chief Distribution Officer at Foxquilt.
“This launch fills a major capacity gap in the state,” he posits, “providing small business owners with streamlined, accessible coverage tailored to their needs.”
“We’re excited to work alongside our agency and enterprise partner network to empower New York businesses to thrive with confidence,” Reznick said.
As the only cross-border platform of its kind, Foxquilt combines data analytics and dynamic underwriting logic to deploy fully automated, multi-operational coverage to meet the needs of both affinity partners’ insurance requirements and associated small business customers.
In 2021, Foxquilt raised a $8 million Series A financing round led by Luge Capital with participation from AmTrust Financial, Extreme Venture Partners, and Side Door Ventures.
In 2023, the Canadian fintech followed that up with $12 million in Series B financing, which helped fuel Foxquilt’s expansion into the U.S. market.
Foxquilt was founded in Toronto in 2016.
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