Allianz X

Retail investors demanding sophisticated passive investment strategies are looking for an edge.

Retail Trading Infrastructure

Moneyfarm is one of the largest online investment and digital wealth management companies in Europe, managing around GBP 2.3 billion (USD 3.1 billion) in assets as of December 2021. The platform was initially launched in 2012 in Italy, but the office headquarters are now in London after the company set up operations there in 2016. Moneyfarm has also entered Germany by acquiring Vaamo in 2018. The company has more than 84,000 customers across the UK, Italy, and Germany. Moneyfarm’s services include pension, pension drawdown, individual saving account (ISA) and general investment, with a wide range of asset classes, geographies, and currency exposures to minimize risk. Moneyfarm combines financial technology with a human touch, providing financial consultants to help clients construct investment portfolios or answer specific questions related to their individual needs. Compared to peers, Moneyfarm requires a relatively low minimum investment of GBP 1,500 (USD 1,941). Fees are similar to peer Nutmeg, ranging from 0.75% per year for the first GBP 10,000 (USD 12,941) to 0.35% for anything over GBP 100,000 (USD 129,410).In November 2021, Moneyfarm launched a white-label digital wealth platform in the UK, aimed at helping financial advisors serve lower-income clients. The platform was to deliver advice on portfolio management, acquire new customers, and manage existing customer relationships.In December 2021, the company announced the acquisition of Wealthsimple UK’s business book for an undisclosed amount. The purchase followed Wealthsimple’s decision to cease its UK operations and focus on the Canadian market. Through the acquisition, Moneyfarm expected to leverage Wealthsimple’s assets under management and customers to boost growth.In 2021, Moneyfarm’s customer numbers grew by 73% YoY and assets under management (AUM) increased by 72% YoY.In September 2019, the company raised GBP 36 million (USD 44.4 million) in Series C funding round (35% of total funding).In January 2022, Moneyfarm raised GBP 44.1 million (approximately USD 60 million) from a private placement, which was led by M&amp;G. The management intended to use the funds to develop its platform further, broaden its product proposition, and form strategic partnerships. Along with the funding, Moneyfarm got into a partnership with M&amp;G that would allow it to use Moneyfarm’s technology to deliver multi-asset model portfolios and launch M&amp;G Wealth. In addition, M&amp;G was to also purchase a minority stake in Moneyfarm.

Based in Toronto, Wealthsimple is a hybrid investment management platform that allows individuals to invest in diversified portfolios, according to their risk profiles. The company launched the robo-advisory platform in Canada in 2014, and expanded into the UK and US in 2017. Wealthsimple sold its US-based clients to Betterment in March 2021. In September 2020, Wealthsimple also sold its B2B robo advisory platform—called Wealthsimple For Advisors—to Purpose Advisor Solutions. Further, in December 2021, it sold its UK business book to Moneyfarm, following its decision to cease its UK operations and focus on the Canadian market.The company’s robo-advisory platform features access to financial advisors, automatic portfolio rebalancing, tax loss harvesting, and dividend reinvestment. Over the years, the company has also added other services to help individuals achieve their financial goals such as high-yield saving accounts, commission-free trading, crypto trading, and automatic investing of spare change. In December 2021, it also announced plans to launch Wealthsimple Trade Plus—a new subscription service for trading US stocks with no currency conversion fees—in January 2022. As of 2021, the company has more than USD 3 billion in assets under management (AUM).The basic subscription requires zero minimum account balance and charges a 0.5% annual fee—the same rate as Toronto-based competitor Justwealth. To access financial advisors and more advanced features such as financial planning sessions, the platform requires a higher minimum account balance of USD 100,000 with a reduced annual fee of 0.4%. Wealthsimple Trade Plus is expected to have a monthly subscription fee of CAD 10 (~USD 8).In May 2021, the company raised CAD 750 million (USD 610 million) in funding led by Meritech and Greylock, at a post-money valuation of CAD 5 billion (USD 4 billion). The funding will be directed towards developing new products and expanding the company's workforce.

Simplifying the insurance experience for businesses using technology

InsurTech: Commercial Lines

<div>
 
 Pie Insurance primarily provides workers' compensation to small businesses via an online platform. Pie Insurance uses data and analytics to offer tailored and cost-effective coverage. In addition, Pie Insurance offers commercial auto insurance and a range of supplementary services and products. These include a solution that combines workers' compensation with payroll processing, risk reduction programs, and employer-extended coverages. The company also provides access to an online library of safety training modules and a return-to-work program to facilitate the recovery and reintegration of injured employees.&nbsp;
 
 
 By May 2022, the company had increased its annualized run-rate premium to nearly USD 300 million.
 
 
 In 2023, Pie Insurance transitioned from a managing general agent to a full-stack insurance carrier after it acquired American Insurance Company.&nbsp;
 
 
 Key customers and partnerships&nbsp;
 
 
 Pie Insurance primarily serves small businesses across various sectors, including construction, healthcare, and retail. The company provides its insurance products directly and through partnerships with local, regional, and national insurance agencies. In 
 <a href="https://sp-edge.com/updates/31431">
 July 2024
 </a>
 , the company partnered with Ford to launch a usage-based offering as part of the &quot;Ford Pro Insure&quot; program, a commercial auto insurance solution designed for Ford Pro vehicle fleets.
 
 
 
 As of September 2022, the company had partnered with over 2,800 agencies nationwide. As of May 2024, Pie Insurance has expanded its coverage to 38 states and the District of Columbia.
 
</div>

Next Insurance provides digital insurance solutions tailored specifically for small businesses. The company’s product offering includes a range of insurance policies, including general liability, professional liability, commercial auto, and workers’ compensation. The company leverages AI and machine learning to streamline the insurance process, claiming to process policy requests within 10 seconds. It incorporates factors such as risk level, location, and other business-specific factors to provide policy proposals.&nbsp;In March 2021, Next Insurance acquired AP Intego, a digital agency specializing in small business commercial insurance. The acquisition was intended to expand Next Insurance’s reach to more customers in new business classes. In December 2020, the company acquired Juniper Labs, a startup that automates underwriting for sellers insurance to small businesses, to expand its product offering.&nbsp;In October 2024, the company launched standalone&nbsp;<a href="https://sp-edge.com/updates/34864">professional liability coverage</a> for consultants, offering protection against risks such as errors and omissions, personal injury, and property damage. The coverage can be customized with options for extended reporting periods and prior acts coverage.Key customers and partnershipsAs of November 2023, Next Insurance reported around 500,000 active policyholders, spanning a diverse base of small businesses across various industries, from construction and retail to professional services and fitness.In March 2021, Next Insurance partnered with Amazon to offer insurance solutions to Amazon Prime Business members, providing tailored insurance coverage through the platform​​.&nbsp;In September 2023, Next Insurance partnered with Bold Penguin, an integrated digital solution platform that offers commercial insurance. Through this collaboration, independent insurance agents can access Next Insurance's tailored policies for small businesses, expanding the company's distribution channels.In November 2023, Next Insurance partnered with Allstate and Allianz X. The partnership with Allstate provided Next Insurance’s products to Allstate’s customers and collaborated on developing a new product for commercial auto insurance. The collaboration with Allianz X aimed to strengthen Next Insurance’s reinsurance relationship with Allianz X.In March 2024, it partnered with Tensorflight, a property intelligence platform, to leverage Tensorflight’s property data and risk models to enhance Next Insurance’s underwriting process.&nbsp;

Pet ownership is at an all time high in the United States and the pet care economy is booming.

Pet Care Tech

<div>
 
 Lemonade is a full-stack insurer that provides a range of insurance products that include renters, homeowners, life, car, and pet insurance. In July 2020, the company expanded its offerings by launching pet insurance for dogs and cats. The decision to introduce pet insurance was driven by the fact that a significant portion (70%) of Lemonade's customers who have home or renters policies are also pet owners. The policy covers a wide range of medical procedures and treatments, including blood tests, x-rays, MRIs, lab work, CT scans, ultrasounds, outpatient care, specialty and emergency procedures, hospitalization, surgery, and medication. Additionally, pet owners have the option to purchase an extended Accident and Illness Package that covers accidents, poisonings, and various illnesses. The company&rsquo;s pet insurance policy starts at USD 12 per month, and existing policyholders can receive a 10% discount by bundling it with their home or renters insurance. Furthermore, it offers an optional wellness package that provides savings for routine checkups, tests, and vaccines, as well as access to medical advice chat and helpful reminders.
 
 
 In May 2018, Lemonade launched Policy 2.0, an insurance policy that simplifies and adopts an open-source approach, which is an industry first. Initially available only in Europe, Policy 2.0 aimed to tackle the issue of policyholders struggling to comprehend their coverage. A notable feature is it allows anyone to contribute and propose changes to the policy, offering a unique perspective in the insurance industry. Lemonade planned to bring Policy 2.0 to the US, aiming to improve transparency and accessibility for customers.
 
 
 The company claims that its AI utilizes several anti-fraud algorithms to eliminate false claims and asserts that it is capable of handling 30% of claims instantly. The company&rsquo;s business model is similar to peer-to-peer insurance, where Lemonade donates any unclaimed premiums to charitable causes of the customer&rsquo;s choosing.&nbsp;
 
 
 The company holds a pan-European license, which enables it to sell insurance in 31 countries across Europe with established operations in France, Germany, and the Netherlands. 
 In addition, it obtained a UK carrier license from the Prudential Regulation Authority (PRA)&nbsp;
 <a href="https://sp-edge.com/updates/19835">
 in June 2023,
 </a>
 allowing the company to introduce a broader range of insurance offerings as well as strengthen its presence in the country. It initially launched in the 
 <a href="https://sp-edge.com/updates/18769">
 UK in October 2022,
 </a>
 offering renters (contents) insurance.
 
 
 Key customers and partnerships
 
 
 As of March 2023, Lemonade had ~1.9 million customers (up 23.4% YoY).
 
 
 In October 2022, the company 
 <a href="https://sp-edge.com/updates/18770">
 partnered with Chewy
 </a>
 to offer pet insurance policies as part of the latter&rsquo;s suite of insurance and wellness offerings, CarePlus. It was expected to be launched exclusively on Chewy&rsquo;s website beginning in spring 2023. Customers could also use Lemonade&rsquo;s app for policy management and claims filing.
 
 
 Funding and financials
 
 
 In July 2020, Lemonade sold 11 million shares in an Initial Public Offering (IPO), raising USD 319 million in the process at a valuation of USD 1.6 billion. Lemonade announced a secondary stock offering in January 2021, where the company offered 3 million shares for sale, with the option to purchase additional shares for underwriters to cover higher-than-expected demand. Lemonade also disclosed that certain existing shareholders would also be offering their own shares for sale, amounting to approximately 1.5 million shares.
 
 
 For the full year of 2022, Lemonade recorded total revenue of USD 256.7 million (up 99.9% YoY), due to gross earned premium increasing 68.0% YoY to USD 490.5 million. However, its net loss deteriorated 23.4% YoY to USD 297.8 million, and its net loss ratio fell 4 ppt YoY to 97% in FY 2022. On the back of robust 
 <a href="https://sp-edge.com/updates/18991">
 Q1 2023 performance,
 </a>
 the company revised its FY2023 guidance upwards; it expected IFP to be in the range of USD 700 million&ndash;705 million (implying an increase of 12.0%&ndash;12.8% YoY), and to achieve GEP in the range of USD 645 million&ndash;650 million (implying a growth of 31.5%&ndash;32.5% YoY).&nbsp;
 
</div>

New insurance models are disrupting a centuries-old industry with a focus on personalization and convenience

InsurTech: Personal Lines

<div>
 
 Lemonade is a full-stack insurer that provides a range of insurance products that include renters, homeowners, life, car, and pet insurance. The company operates completely digitally, using AI-powered chatbots to onboard clients and process claims. The company&rsquo;s AI runs several anti-fraud algorithms to eliminate false claims and asserts to handle 30% of claims instantly. The company&rsquo;s business model is similar to peer-to-peer insurance, where Lemonade donates any unclaimed premiums to charitable causes of the customer&rsquo;s choosing. Lemonade offers life insurance through its website and mobile apps in partnership with life insurance provider Banner Life (a subsidiary of Legal &amp; General).
 
 
 The company launched its own car insurance product, &ldquo;Lemonade Car&rdquo; in November 2021, which uses its underlying AI-based technology to process policies and claims, enabling safe drivers to obtain better rates. Lemonade Car has been specifically designed to offer lower insurance rates for low-mileage drivers and environmentally friendly electric vehicles (EVs) and hybrid cars. The offering will use a telematics app to measure factors such as mileage and driving habits and will also provide services such as 24/7 on-location roadside assistance. As of January 2024, Lemonade Car was available in seven
 <a href="https://sp-edge.com/updates/23906">
 states
 </a>
 : Arizona, Illinois, Ohio, Oregon, Tennessee, Texas, and Washington.
 
 
 Lemonade utilizes a machine learning model&ndash;6th generation Lifetime Value (LTV6)&ndash;to predict a customer's likelihood to churn, claim, and cross sell, from which it derives an estimated lifetime value of a customer. It is also used to score each product, market and campaign. In addition, by incorporating customer acquisition cost into the model, it helps the company decide which product, market, and campaign receives the incremental dollar spend.
 
 
 In July 2022, Lemonade completed the acquisition of Metromile, a pay-per-mile automobile insurance provider, in an all-share transaction valued at USD 145 million or 7.3 million Lemonade shares, excluding cash, worth USD 150 million, which marked Lemonade&rsquo;s first acquisition. Through the acquisition, Lemonade aimed to bolster its auto insurance offerings by using Metromile&rsquo;s vast amount of driving data to offer competitive and precise policies and benefit from Metromile&rsquo;s written premiums of over USD 110 million and insurance licenses in 49 states, compared to the three it owns in Ohio, Illinois, and Tennessee, accelerating its speed to the market throughout the US.
 
 
 The company holds a pan-European license, which enables it to sell insurance in 31 countries across Europe with established operations in France, Germany, and the Netherlands. In addition, it obtained a UK carrier license from the Prudential Regulation Authority (PRA) 
 <a href="https://sp-edge.com/updates/19668">
 in June 2023
 </a>
 , allowing the company to introduce a broader range of insurance offerings as well as strengthen its presence in the country. It initially launched in the 
 <a href="https://sp-edge.com/updates/13455?industryIds=36">
 UK in October 2022
 </a>
 , offering renters (contents) insurance.
 
 
 Key customers and partnerships
 
 
 As of December 2023, Lemonade had ~2.0 million customers.
 
 
 Lemonade 
 <a href="https://sp-edge.com/updates/12330">
 partnered with Mitchell International
 </a>
 , to use the latter&rsquo;s claims management platform to streamline and automate the claims processes of its auto insurance business&ndash;Lemonade Car. In addition, the company entered into a strategic partnership with 
 <a href="https://sp-edge.com/updates/13455">
 Aviva to enter the UK market
 </a>
 offering renters insurance, with the latter also being its reinsurance partner. It also collaborated with BNP Paribas Cardif (the personal lines insurance arm of BNP Paribas) to offer digital 
 <a href="https://sp-edge.com/updates/16392">
 renters
 </a>
 and 
 <a href="https://sp-edge.com/updates/28325">
 homeowners
 </a>
 insurance in France. Furthermore, the company 
 <a href="https://sp-edge.com/updates/13947?industryIds=36">
 partnered with Chewy
 </a>
 to offer pet insurance policies as part of the latter&rsquo;s suite of insurance and wellness offerings CarePlus.&nbsp;
 
 
 In June 2023, the company partnered with General Catalyst (GC), a venture firm and an early investor in Lemonade, to create Synthetic Agents. This program, which commenced on July 1, 2023, involved General Catalyst (through its Customer Value platform) financing up to 80% of all Lemonade's customer acquisition costs. In return, they received a commission of up to 16% of the stream of premiums they helped finance. Once GC had recovered its investment and capped the return on any one cohort, the remaining 'lifetime value' of the customers from that cohort accrued entirely and indefinitely to Lemonade.
 
 
 Funding and financials
 
 
 In July 2020, Lemonade sold 11 million shares in an Initial Public Offering (IPO), raising USD 319 million in the process at a valuation of USD 1.6 billion. Lemonade announced a secondary stock offering in January 2021, where the company offered 3 million shares for sale, with the option to purchase additional shares for underwriters to cover higher-than-expected demand. Lemonade also disclosed that certain existing shareholders would also be offering their own shares for sale, amounting to approximately 1.5 million shares.
 
 
 For the full year of 2023, Lemonade recorded total revenue of USD 429.8 million (up 67% YoY), due to gross earned premium increasing 37% YoY to USD 672.3 million. Its net loss improved to USD 236.9 million in 2023 from USD 297.8 million in 2022, while its net loss ratio also improved to 89% from 97%.
 
</div>

The latest line of defense against rising cyber attacks

Cyber Insurance

<div>
 
 Coalition offers cyber insurance to cover cyberattack-related incidents such as stolen funds, lost business income, ransomware extortion, computer replacements, breach response costs, and even costs related to reputation harm and repair. The company offers insurance with a maximum coverage of USD 15 million to companies with up to 
 <a href="https://sp-edge.com/updates/16382">
 USD 5 billion
 </a>
 in revenue. Coalition&rsquo;s insurance policies are underwritten by insurance giants such as Swiss Re Corporate Solutions, Argo Group, and Lloyds of London.
 
 
 Coalition also offers technology errors and omission (E&amp;O) insurance for protection against legal liability resulting from errors in the technology products they sell. It also offers cybersecurity solutions of its own, including an endpoint detection and response platform (EDR), managed services, risk assessment, and staff training services. Coalition combines its cybersecurity offering with its insurance business line to provide threat monitoring and real-time intelligence as well. The company&rsquo;s managed response teams act as the first line of defense, preventing attacks before they turn into insurance claims while helping companies assess losses and providing additional support during the claims process.
 
 
 In April 2023, 
 <a href="https://sp-edge.com/updates/16070">
 Coalition announced AI initiative &ldquo;CoalitionAI&quot;
 </a>
 , launching generative AI services for their broker and enterprise clients. Features at launch would include Cyber Insurance knowledge platforms providing AI powered insights to brokers and businesses - with plans to add features that will support quoting, underwriting, and incident response.&nbsp;
 
 
 Coalition has grown significantly through acquisitions, snapping up BinaryEdge in 2019 to build vulnerability scanning tools, and commercial insurer Attune in October 2021 to leverage its significant insurance marketplace.
 
 
 In August 2022, the company 
 <a href="https://sp-edge.com/updates/12452">
 acquired
 </a>
 the property and casualty insurer, Digital Affect Insurance Company from Munich Re Digital Partners US. The acquisition enabled it to offer insurance policies through its own admitted insurance carrier.
 
 
 In July 2023, 
 <a href="https://sp-edge.com/updates/20094">
 Coalition acquired Jumbo
 </a>
 , a consumer privacy smartphone application, in what was reportedly an acqui-hire deal to gain access to Jumbo&rsquo;s team and security expertise.
 
 
 Key customers and partnerships
 
 
 As of August 2022, the company served more than 160,000 customers. Coalition offers its active cyber insurance offering to the US, UK, and Canada through global insurers, including Arch Insurance North America, Allianz, Ascot Group, Lloyd's of London, Swiss Re Corporate Solutions, Vantage, and Zurich American Insurance Company.
 
 
 The company offers its services to industries such as healthcare, retail, e-commerce, technology, real estate, energy, manufacturing, the public sector, and even novel industries such as blockchain and cryptocurrency.
 
 
 Coalition entered into a multi-year partnership with Allianz in June 2022 where Allianz was to back a share of Coalition&rsquo;s Active Cyber Insurance programs for SMEs in the US and UK.&nbsp;
 
 
 In September 2022, the company 
 <a href="https://sp-edge.com/updates/13203">
 partnered 
 </a>
 with the cybersecurity startup, 
 <a href="https://sp-edge.com/companies/75532">
 CrowdStrike 
 </a>
 , to protect policyholders of Coalition against cyber attacks and help them comply with the key contingencies required for a cyber insurance policy.&nbsp;
 
 
 Funding and financials
 
 
 In June 2022, Coalition 
 <a href="https://sp-edge.com/updates?industryIds=52">
 raised USD 250 million 
 </a>
 in a Series F funding round. The round valued the company at USD 5 billion from the USD 3.5 billion valuation achieved during its 
 <a href="https://sp-edge.com/updates/5971">
 Series E raise 
 </a>
 in September 2021. The funds were expected to be utilized to expand its services, to accelerate its growth, and on international expansion.
 
 
 In October 2022, Coalition partnered with the private equity firm BDT Capital Partners to 
 <a href="https://sp-edge.com/updates/13776">
 launch Ferian Re
 </a>
 &ndash; an independent Class 3B reinsurer that will act as a source of capacity to support the cyber insurance programs of Coalition. Ferian Re was launched with an initial capitalization of nearly USD 300 million.
 
 
 As of September 2021, the company had an employee headcount of 265. Coalition reported that its revenue grew nearly 200% YoY and the run rate gross written premium (GWP) exceeded USD 775 million, as of July 2022.
 
</div>

Democratizing financial technology with a suite of API-based solutions

FinTech Infrastructure

Stripe provides the infrastructure for businesses to build online and app-based payment services using application programming interfaces (APIs). Stripe also offers point-of-sale hardware (in competition with Square and Zettle) through its “Stripe Reader,”(launched in June 2021), a standalone card scanner. Reader can be integrated with Stripe’s Terminal and the rest of the Stripe ecosystem, thereby allowing users to offer an omnichannel payment solution.Stripe also offers commercial card issuing infrastructure, “Stripe Issuing,” for which it charges interchange fees from transactions. The company expanded Stripe Issuing and <a href="https://sp-edge.com/updates/19091">added charge card features in June 2023 </a>, enabling end-customers to spend on credit terms rather than exclusively through pre-funded accounts.The company has grown through multiple acquisitions. It expanded its operations to Nigeria in October 2020 by acquiring Lagos-based payment integration service infrastructure provider, Paystack. In May 2021, Stripe acquired Bouncer, a technology provider that authenticates cards to reduce fraud in online transactions, and in October 2021 the company acquired <a href="https://sp-edge.com/updates/6113">Indian company Recko </a>.Stripe is present across the globe serving nearly 50 countries (as of October 2022), across the Americas, Europe, Asia, and the Middle East.Stripe expanded its platform solutions, by launching “ <a href="https://sp-edge.com/updates/3563">Stripe Tax </a>” and “ <a href="https://sp-edge.com/updates/3564">Stripe Identity </a>”. Stripe Tax automates the calculation and collection of multiple types of taxes for transactions made through the platform, and came on the heels of Stripe acquiring TaxJar, a sales tax software provider, in April 2021. Stripe Identity is a low-code/no-code verification tool for online businesses to prevent fraud, account takeovers, and bad actors. It also launched “ <a href="https://sp-edge.com/updates/10153">Financial Connections </a>” in May 2022, for enterprises to connect directly with end customer bank accounts to verify accounts, check balances, and confirm ownership, and “ <a href="https://sp-edge.com/updates/10666?industryIds=53">App Marketplace” </a>to provide access to third-party apps.In October 2021, Stripe also announced that it plans to offer infrastructure for merchants to accept cryptocurrency payments by forming a new crypto team to build out Web3 (highly decentralized web networks) payment solutions.Key customers and partnershipsIn November 2023, Stripe <a href="https://sp-edge.com/updates/23364">expanded its partnership with JCB International Co., Ltd. </a>(the international operations subsidiary of JCB Co., Ltd) to support its international expansion plans by leveraging JCB’s card network to facilitate merchant payments across European countries, Singapore, and Hong Kong. As of January 2022, Stripe’s enterprise customers included Shopify, Google, Peloton, <a href="https://sp-edge.com/updates/7819?industryIds=53">Ford </a>, and Amazon, among others. Stripe also enhanced its platform functionality and reach by partnering with leading global financial service companies and payment networks. In December 2020, it expanded the partnership with Goldman Sachs to add more functionality to “Stripe Treasury” (solution to embed financial services to marketplaces) in the US. Stripe also <a href="https://sp-edge.com/updates/5215">partnered with China’s UnionPay </a>International in August 2021, to complement its Alipay and WeChat pay integrations. This enables Stripe merchants in several markets to accept payments from Chinese customers residing in and outside the mainland.Stripe has also partnered with leading buy-now-pay-later (BNPL) solutions providers, <a href="https://sp-edge.com/updates/6217">Klarna </a>and <a href="https://sp-edge.com/updates/10799">Affirm </a>, to allow merchants using Stripe to offer its US and European customers an option to pay in installments.Funding and financialsStripe reportedly processed transactions worth more than USD 817 billion in 2022, up 26% YoY, with more than 100 companies handling over USD 1 billion in payments annually. Moreover, as of February 2021, Stripe handled over 250 million API requests per day in more than 135 currencies across over 35 countries. The company also reported that around 90% of US adults had purchased products from businesses using Stripe.Stripe reduced its internal valuation to USD 63 billion in January 2023 (from USD 95 billion during its March 2021 funding round), following laying off around 14% of its workforce in November 2022. The company noted that the layoff was owing to Stripe being overly optimistic about the internet economy’s growth in 2022 and 2023. In January 2023, the company also reportedly set itself a <a href="https://sp-edge.com/updates/15977?industryIds=53">12-month deadline to go public </a>, either through a direct listing or a private market transaction (offering a secondary market exit for employees).The company subsequently <a href="https://sp-edge.com/updates/17162?industryIds=53">raised USD 6.5 billion </a>in Series I funding, in March 2023, at a USD 50 billion valuation. The funds were nor earmarked for running business operations, and instead should be put toward offering liquidity to employees (current and former) and address employee withholding tax obligations related to equity awards.

Making banking work, without the paperwork

Neobanks

Berlin-based N26 provides digital banking services to both the B2C and B2B segments via a web portal and a mobile app. Under both segments, the company operates a freemium/ subscription-based business model, offering its products under four different tiers. “N26 Standard,” its most basic package, is offered free of charge and offers checking accounts, which includes a virtual debit card, free payment options in any currency, and PFM tools that provide users with insights on spending patterns. Packages with additional features are priced at EUR 4.9–16.9 per month and include features such as physical debit cards, insurance products, investment products, and the creation of sub-accounts under one main account and unlimited cash withdrawals in any currency worldwide. The company also offers <a href="https://sp-edge.com/updates/18683">savings accounts</a> and <a href="https://sp-edge.com/updates/28501">joint accounts</a>. These accounts do not have minimum deposit requirements, additional fees, or the necessity of direct salary remittance into the account. It also offers <a href="https://sp-edge.com/updates/27547">Instant Savings</a> accounts in 13 European countries.The company claims that new bank accounts can be opened within eight minutes via its platform, and it allows users to instantly top up their N26 accounts using credit and debit cards and digital wallet options. The platform also enables users to integrate their accounts with payment services such as Apple Pay and Google Pay, allowing users to make payments via their smartphones.The company also provides a <a href="https://sp-edge.com/updates/13946">cryptocurrency trading platform</a> accessible via its mobile app. As of January 2023, the platform was available to customers in Austria, France, Germany, Switzerland, Belgium, Portugal, and Ireland. The company will charge Metal customers a 1% and 2% transaction fee for trading Bitcoins and other cryptocurrencies, respectively, while all other users will be charged an additional 0.5%. In addition, it also offers a <a href="https://sp-edge.com/updates/25658">stock and ETF trading platform</a> within its mobile app, available for customers in Austria, Ireland, and Germany. It charges EUR 0.90 per trade.N26 operates under its own banking license in Europe. In November 2021, it announced plans to <a href="https://sp-edge.com/updates/6773">discontinue its US operations</a> and exited the market in early 2022. By the end of 2023, N26 ceased operations in <a href="https://sp-edge.com/updates/23611">Brazil</a>. It chose to focus exclusively on the European market instead, particularly Germany, France, Italy, Spain, and Austria.Key customers and partnershipsAs of November 2023, N26 served more than eight million customers across 24 markets.It has collaborated with Stripe to facilitate account top-ups and had aims to leverage Stripe’s network for its own geographic expansion.N26 has entered into various partnerships to enhance its product offerings. It partnered with Stripe to enable account top ups and it also aimed to leverage the latter’s network to accelerate its own geographic expansion. In addition, it collaborated with Bitpanda to launch its cryptocurrency trading platform. Furthermore, N26 partnered with Upvest to launch a <a href="https://sp-edge.com/updates/24499">new investment platform</a>.Funding and financialsIn October 2021, the company raised <a href="https://sp-edge.com/updates/6047">USD 900 million in Series E</a> funding, co-led by Third Point Ventures and Coatue Management. The round valued the company at USD 9 billion (around 2.5x higher than its reported valuation in May 2020). The new funds were intended to be utilized to further strengthen its product offering and grow its workforce, with plans to add over 1,000 new roles in the areas of product, technology, and cybersecurity.In 2022, N26 reported a net revenue of EUR 236.3 million (USD 256.3 million; up 24% YoY), due to significant growth in account usage and customer activity. It reported an operating loss of EUR 170.4 million (USD 184.4 million), and a net loss of EUR 213.4 million (USD 231.5 million; up 24% YoY), primarily due to a significant increase in investments in compliance as well as human and technical infrastructure. It also reported its transactional volumes improved 22% YoY to EUR 97 billion (USD 105.2 billion) during the year, while its deposit base grew 20% YoY to EUR 7.2 billion (USD 7.8 billion).

Information to create a more efficient, cleaner and safer way to travel in the city of the future

Smart Mobility Information

<div>
 
 Nauto provides an AI-powered driver and fleet safety platform. The platform applies computer vision and proprietary algorithms to its AI-enabled dual-facing dash camera. This monitors driver behavior and vehicle surroundings to predict high-risk events and send real-time in-vehicle alerts (IVA) to prevent pedestrian collisions, speeding and intersection violations, and distracted driving. In November 2019, the firm introduced self-coaching tools for drivers to improve distracted driving and manager-led coaching modules for commercial fleet managers. The firm claimed its tools had helped reduce distraction events by more than 35% on average. 
 
 The firm claimed to be the only AI-enabled platform that impacted driver behavior in real-time, which it claimed has led to the avoidance of 70,000+ collisions, resulting in a ~USD 300 million savings. 
 
 
 In November 2021, Nauto introduced a driver drowsiness detector system that monitors real-time multiple drowsiness indicators such as yawning, blink rate, drooping shoulders, etc. which will trigger in-vehicle alert (IVA) systems when a certain threshold is reached. 
 
 
 Key customers and partnerships
 
 
 
 As of February 2022, Nauto&rsquo;s platform was used by 800+ brands including Allegiant, Flexibus, Sprint, Edge, Phillips. 
 
 
 Funding and financials
 
 
 
 <a href="https://sp-edge.com/updates/19521">
 In June 2023,
 </a>
 Nauto secured a strategic investment from Stellantis Ventures, the venture capital arm of automaker Stellantis, to extend its safety benefits to more light commercial vehicles and, eventually, to consumer vehicles. The firm has also attracted investor interest from automakers like General Motor Ventures, Toyota AI Ventures, and BMW iVentures. It is believed that the firm's data can be leveraged for the development of self-driving cars in the future.
 
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Autonomous and connected technologies shaping the future of the auto industry

Auto Tech

<div>
 
 Nauto develops advanced driver assistance systems (ADAS) for commercial fleets and autonomous vehicles on a software-as-a-service (SaaS) basis. Its products include predictive collision alerts, driver behavior alerts, self-guided coaching, manager-led coaching, incident reporting, on-demand videos, and 
 <a href="https://sp-edge.com/updates/22786">
 telematic capabilities for vehicle insights.
 </a>
 The solutions combine predictive artificial intelligence (AI), data science technologies, and more than 1 billion AI-analyzed video driving miles. The company claims to contribute to up to 80% reduction in distracted driving, collisions, and losses. Nauto is also reportedly the only AI-enabled platform that impacted driver behavior in real-time, which it claimed has led to the avoidance of 70,000+ collisions, resulting in a ~USD 300 million savings (as of February 2024).
 
 
 
 
 Key customers and partnerships
 
 
 The company had nearly 800 partnering customers worldwide as of February 2024. Its industry partners include Allianz, Toyota, SoftBank, Geotab, Orix, General Motors, BrightDrop, Herr Foods, and NAFA Fleet Management Association.
 
 
 
 
 Funding and financials
 
 
 <a href="https://sp-edge.com/updates/19529">
 In June 2023,
 </a>
 Nauto secured a strategic investment from Stellantis Ventures, the venture capital arm of automaker Stellantis, to extend its safety benefits to more light commercial vehicles and, eventually, to consumer vehicles.
 
 
 
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Embedding environmental, social, and corporate governance factors into investments

Sustainable Finance

ESG Book is a global leader in sustainability data and technology, offering a wide range of ESG-related data, scoring, and technology products. The company's cloud-based platform makes sustainability data accessible, consistent, and transparent, enabling financial markets to allocate capital toward more sustainable and higher-impact assets. ESG Book covers over 50,000 companies globally and provides a suite of solutions that empower companies to be custodians of their own data, disclose directly to stakeholders in real-time against multiple frameworks, and promote transparency.
In April 2023, ESG Book launched the Corporate ESG Dashboard, a unique and transparent solution that combines in-depth ESG and climate data, peer benchmarking analytics, and reporting features. This SaaS-based tool enables companies to analyze and optimize their ESG performance, gain transparency by drilling down scores to underlying source data, benchmark against industry peers, navigate reporting requirements, and disclose, validate, and update corporate ESG data in real-time.
ESG Book's platform also allows stakeholders, including investors, banks, and consultants, to analyze corporate sustainability performance in granular detail, better identifying non-financial risks and opportunities. The company partners with organizations like the International Finance Corporation (IFC), Global Reporting Initiative, and leading financial institutions to drive sustainability in financial markets.

Providing AI-driven market intelligence and workflow automation to give firms an edge

Capital Markets Tech

London-based OpenGamma is a derivatives analytics firm that provides margin optimization software and solutions to banks, asset managers, hedge funds, and other financial institutions. The company offers a front-to-back derivatives management platform that helps clients understand, predict, and optimize margin costs by independently replicating the models used to calculate margin requirements. OpenGamma's technology enables users to dynamically manage funding, liquidity, and optimization requirements across bilateral, SIMM, and cleared derivatives portfolios. The company's solutions aim to increase investment efficiency, drive down trading and treasury costs, and help firms adapt to regulatory changes in the derivatives landscape.&nbsp;OpenGamma's platform provides pre-trade and post-trade margin analytics, allowing users to simulate the impact of position changes, assess new business opportunities, and identify the most cost-effective options for trades across different products, exchanges, and counterparties.&nbsp;In March 2023, the company launched a margin-at-risk product that enables firms to forecast and stress test capital requirements for cleared derivatives several years into the future, addressing the need for better liquidity planning in volatile market conditions.&nbsp;Key customers and partnerships&nbsp;As of August 2024, OpenGamma served over 90 customers–a diverse client base that includes major banks, hedge funds, asset managers, pension funds, and commodity trading firms.&nbsp;The company has established partnerships with key industry service providers to enhance its offerings. In October 2021, Limina AB, a provider of cloud-native investment management solutions, integrated OpenGamma's Strata, an open-source derivatives analytics library, into its cloud-based Investment Management System. OpenGamma also maintains a close working relationship with PIMCO, a subsidiary of Allianz and one of the world's leading fixed-income investment managers. In April 2024, OpenGamma completed the integration of its platform with Nodal Clear, the clearing house for Nodal Exchange, enabling clients to calculate, optimize, and forecast margin requirements on Nodal Exchange.

Taking commercial activities to new heights

Commercial Drone Tech

The Drone Racing League (DRL) is a professional drone racing circuit that hosts high-speed competitions globally. Pilots fly custom-built FPV (first-person view) racing drones capable of exceeding 80 mph through complex aerial courses in stadiums and other venues. The drones are operated using controllers and FPV headsets that provide pilots with an immersive experience. DRL's core technology incorporates elements of virtual and augmented reality, enabling unique viewing experiences for fans.
In addition to real-world events, DRL offers a true-to-life drone racing simulator (DRL SIM) that serves as a training platform for professional pilots while allowing casual gamers to experience the thrill of drone racing across major gaming platforms. The simulator replicates DRL's custom drones and race courses with remarkable accuracy.
DRL has experienced significant growth, reaching over 1 billion annual digital video views as of 2024. Its broadcasts have a global footprint of 320 million households through partnerships with top sports networks. In April 2024, Infinite Reality, a metaverse company, acquired DRL for USD 250 million, further solidifying the league's position in the immersive tech and entertainment space. Following the acquisition, DRL founder Nicholas Horbaczewski was promoted to Infinite Reality's Global President.
In April 2023, DRL became the first sports property to stream an entire season in the metaverse through its "DRL metaverse Marathon." This innovative approach allowed fans to experience the 2022-23 Algorand World Championship Season from immersive perspectives within a digital recreation of DRL SIM's popular MegaCity map.

InsurTech: Infrastructure

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 UK-based Quantemplate offers an artificial intelligence (AI) and machine learning powered data analytics platform specialized for the insurance industry that enables insurers to use their existing data to obtain insights, which can then be used to facilitate underwriting, pricing, and marketing decisions. Quantemplate&rsquo;s clients include leading insurers such as AXA, Sagesure, and Sompo International. The company has an office in the US, in addition to its headquarters in the UK.
 
 
 
 Quantemplate&rsquo;s October 2019 Series B funding round raised USD 12 million led by Route 66 Ventures and Transamerica Ventures. The funding was to be used to fund research and development (R&amp;D) and grow its sales and marketing teams.
 
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Ualá is a technology company providing a comprehensive financial ecosystem that allows users to manage payments, request loans, and invest in various financial products. With services including a prepaid Mastercard, savings accounts, and investment options, Ualá aims to enhance financial inclusion.

Alvarium Tiedemann offers a connected ecosystem of advice, solutions, and investment opportunities from across their network. is a financial solutions company that provides transformational solutions. It is a wealth and asset manager in the business of turning ideas into performing strategies and solutions.

Next Insurance is an online-based insurance company for entrepreneurs and small businesses. The company's services feature claims investigation as soon as possible, with many being decision within 48 hours that helps its clients to get transparency. They use technology to eliminate agents and other expensive extras and give prices that are incredibly affordable. It also offers policies to a range of small businesses from general contractors to personal trainers.  Next Insurance was founded in 2016 and is headquartered in Palo Alto, California..

Wayhome operates in the property sector (Digital B2C). It offers a completely debt-free way to buy a home with just a 5% deposit and no mortgage. It also allows pension funds to invest in owner-occupied residential property, earning inflation-linked rent on the portion the occupier does not own. It is a win-win situation for both homeowners and investors.

Pie Insurance is a workers’ compensation insurance company that provides workers’ comp coverage to small businesses through a simple online experience. The company offers A.M. A-rated insurance that leverages data analytics, easy-to-use online features, and a seasoned team of insurance experts to revolutionize workers’ comp for small businesses. As a technology-enabled workers’ compensation insurance company, Pie leverages extensive, high-quality data sets to segment and price small business policies, accurately assessing risks and passing savings on to small business owners. It intends to use the funds for the continued growth and expansion of its offering to small business owners and conduct strategic initiatives to form and purchase licensed insurance companies. Pie began selling workers comp insurance policies direct to customers in 2018. The company is led by co-founder and CEO John Swigart.

Coalition is an active insurance company that combines comprehensive insurance and proactive cybersecurity tools to help businesses manage and mitigate cyber risk.  Backed by leading global insurers Allianz, Swiss Re Corporate Solutions, Arch Insurance North America, Lloyd’s of London, and Ascot Group, Coalition offers its insurance products in the US and Canada and its security products to organizations globally.  Coalition’s Active Risk Platform provides automated security alerts, threat intelligence, expert guidance, and cybersecurity tools to help businesses remain resilient in the face of cyber attacks. Headquartered in San Francisco, Coalition is a distributed company with a global workforce that collaborates both digitally and in-office hubs across the globe.

ESG Book is a global leader in sustainability data and technology. Incubated by Arabesque in 2018, ESG Book combines cutting-edge technology and proprietary research. ESG Book’s wide range of cloud-based sustainability products and solutions are used by many of the world’s leading financial organisations.  The company’s cloud-based platform makes ESG data accessible, consistent, and transparent, enabling financial markets to allocate capital towards more sustainable and higher-impact assets. Covering over 25,000 companies globally, ESG Book enables companies to be custodians of their own data, provides framework-neutral sustainability information in real-time, and promotes transparency. The company has offices in London, Frankfurt, Boston, Singapore, Delhi and Tokyo and serves clients worldwide from offices in Asia, Europe and North America.

OpenGamma is the analytics company dedicated to reducing the costs of trading derivatives, by providing actionable recommendations to front-office, risk, and treasury. Their deep quantitative understanding of CCP margin and capital models, coupled with their cutting-edge cloud-based technologies, give derivatives users the ability to uncover hidden opportunities that enhance returns.  Since its founding in 2009, OpenGamma has built a global client base consisting of the world’s leading financial institutions and companies across clearing houses, banks, and buy-side firms. Due to their simple set-up, clients are up and running within hours, receiving actionable recommendations for immediate derivative cost savings. With offices in London and New York, their team brings together a unique mix of the practitioner, quantitative, and software engineering expertise, providing unique insights, and products designed from direct experience. With thousands of users depending on their derivatives analytics every day, OpenGamma helps firms tackle the biggest issues in derivatives trading.

Safeboda is the most reliable community-based urban transportation network in Africa. At the click of a button, SafeBoda provides a safe, more convenient, mobile-first alternative to urban transportation for Africa’s booming young population.  They are working to improve the industry for both drivers and passengers by increasing the number of safe trips taken per day and by making travel around cities convenient and stress-free.Founded in the heart of Kampala Uganda, they are truly an African business, designed for the African context.

Fundbox is an AI-powered financial platform for small businesses that offer fast and intuitive access to business credit. The company is on a mission to empower the small business economy by unlocking customer growth. It is headquartered in San Francisco, California by co-founders Eyal Shinar, Tomer Michaeli, and Yuval Ariav in 2013.

Wealthsimple offers financial tools to help investors grow and manage their money. Wealthsimple builds a diversified portfolio of ETFs on the investors' behalf and guides them in achieving their financial goals. Wealthsimple is backed by a team of world-class financial experts. It was founded in 2014 and headquartered in Toronto, Ontario.

HaloDoc is a healthcare network platform. HaloDoc connects users to a network of 19,000 licensed doctors, 1,000 certified partner pharmacies through medical delivery service ApotikAntar, and licensed medical laboratory services. Users can communicate with these medical professionals via chat, video and voice call.

Stripe is a technology company that builds economic infrastructure for the Internet.

WeLab is reinventing traditional financial services by creating seamless digital experiences. With the company's proprietary risk management technology, WeLab effectively analyzes unstructured mobile big data within seconds to provide innovative financial services and offer consumer financing solutions for individual customers. WeLab also offers B2B enterprise solutions by partnering with traditional financial institutions, which utilize WeLab’s technology to offer fintech-enabled services to their customers.

Purpose Unlimited provides asset management, wealth management, and banking technology services. They serve entrepreneurs and small to medium-sized businesses. Their services include purpose investments, thinking capital, and purpose advisor solutions. The firm's platform provides cutting-edge tools for entrepreneurs and small to medium-sized businesses to innovate the next generation of modern asset management, wealth management, and banking technology. It pioneers innovation in making pension-style quality investments accessible to all investors, large and small, in order to assist every Canadian in achieving meaningful long-term success.

Simplesurance develops innovative cross-selling solutions for e-commerce shops to combine traditional insurance industries with fast-paced digital business. Simplesurance's solution enables e-tailors to cross-sell product insurances within but not only the checkout processes and even before. Therewith online-shops are able to monetize customers twice in one process and gain additional margins and profit. More than 2,000 partners including many well-known e-commerce platforms and mobile electronic manufacturers, use the innovative power and flexibility of the company’s cross-selling platform.  In addition, Simplesurance offers to all customers an innovative digital broker service to manage all of the insurances on smartphones, easy and completely paperless. Simplesurance was founded on 2012 and is headquartered in Berlin, Germany.

BIMA offers a range of healthcare services, including telemedicine, health screening, and personalized health programs. The company aims to make healthcare accessible and affordable in emerging markets by leveraging technology. BIMA's vision focuses on empowering individuals to take control of their health while providing comprehensive insurance options.

Amwell is a telehealth platform in the United States and globally, connecting and enabling providers, insurers, patients, and innovators to deliver greater access to more affordable, higher quality care. Amwell believes that digital care delivery will transform healthcare.  The company offers a single, comprehensive platform to support all telehealth needs from urgent to acute and post-acute care, as well as chronic care management and healthy living. With over a decade of experience, Amwell powers telehealth solutions for over 240 health systems comprised of 2,000 hospitals and 55 health plan partners with over 36,000 employers, reaching over 150 million lives. Amwell was founded in 2006 and is headquartered in Boston, Massachusetts.

N26 offers mobile banking solutions to customers in the European Union through its subsidiary. It provides international money transfer, investment, overdraft, and cash withdrawal and deposits at stores.  N26 provides mobile banking services for customers. Its mobile banking services offer online banking that includes making and handling of current accounts, fixed accounts, and other banking services, letting customers manage and control their banking details via a smartphone application easily. Maximilian Tayenthal and Valentin Stalf founded Papayer in February 2013, which later became N26, with its headquarters in Berlin in Germany.

SDA SE Open Industry Solutions is an open platform for developing digital ecosystems. SDA SE allows for the easy integration of existing IT systems and infrastructure and quick onboarding of third parties or external partners, while allowing firms to control their analytics and data.

Quantemplate enables business users to take raw data sources, cleanse and harmonise them with tools powered by machine learning, then perform analysis to develop competitive advantage through proprietary insights. Leading insurance businesses use Quantemplate to grow their business, collapse their costs and enable digital transformation. The company was recently named a European FinTech Top50 company and a Global InsurTech Top21.

Drone Racing League organizes drone racing tournaments and events with the goal of producing three-dimensional (3D) drone racing content that is appealing to a large number of people. The company's competitions and events include first-person perspective drone racing, in which pilots fly custom-designed, hand-built identical drones around sophisticated, thematic, and 3D racecourses, allowing participants to experience a variety of drone-related games.

HeavenHR changed the world of personnel management. Their goal is to provide the only software available that companies need to manage staff. Businesses should save time and concentrate on what sets them apart from the competition. From hiring new staff members to the payroll, they combine all the separate HR processes in a single and easy to use platform for free .

Abracar is professional car broker in the Germany. They help car seller to sell their car at the highest price without any effort. Abracar takes care of all steps of the selling process starting by creating a professional expert’s report, over 50 pictures, writing an attractive listing, filtering the potential buyers, negotiating the final price and preparing the contract. The car buyer benefits from the expert’s report, an Allianz warranty, financing solutions as well as competent consulting.

AUTO1 Fintech is a digital platform offering instant financing and insurance products to automobile dealerships buying and selling used vehicles via AUTO1.

C2FO is the world’s on-demand working capital platform, providing fast, flexible and equitable access to low-cost capital to nearly 2 million businesses worldwide.  Using patented Name Your Rate® technology and a suite of working capital solutions, companies can get paid sooner by the world’s largest enterprises — unlocking billions in risk-free capital. C2FO’s mission is to ensure that every business has the capital needed to thrive and has delivered more than $275 billion in funding around the world. Founded in 2008 and headquartered in Kansas City, USA, with offices around the globe, C2FO is working to build a better, more inclusive financial system every day.

Gojek is an app that providing a variety of services from payments, food delivery, transportation, and logistics. The app is used for food ordering, commuting, digital payments, shopping, hyper-local delivery, getting a massage, and other services. It aims to create a positive socio-economic impact on customers, driver-partners, business, and MSMEs. Gojek is backed by investors including Google, Facebook, PayPal, Sequoia Capital, and Tencent Holdings. The company was founded in 2009 in Jakarta, Jakarta Raya, Indonesia by Kevin Aluwi, Nadiem Makarim, and Michaelangelo Moran.

Lemonade operates as a full-stack insurance company powered by AI and behavioral economics and driven by social good. It is a licensed insurance carrier, offering homeowners and renters insurance. Lemonade replaces brokers and bureaucracy with bots and machine learning, delivering zero paperwork and instant everything.  The company uses artificial intelligence and behavioral economics to set rates for the homes and renters it insures.  Lemonade was founded in Tel Aviv, Israel, in 2015 and is headquartered in New York, NY, United States.

Nauto is an AI technology company that’s improving the safety of commercial fleets today and the autonomous fleets of tomorrow. Nauto’s intelligent driver safety system assesses how drivers interact with the vehicle and the road ahead to reduce distracted driving and prevent collisions. Nauto’s intelligent driver safety system assesses how drivers interact with the vehicle and the road ahead to reduce distracted driving and prevent collisions. With this knowledge, Nauto is powering the development of self-driving technology that brings the best of human driving to autonomy.

Moneyfarm is a finance company. They provide online financial advisory and execution services. They enable their users to manage their money in an efficient way and offer services that provide personal advice on ETFs and trading activity.

Urgently is a digital roadside assistance platform that features a roadside assistance industry to the benefit of global brands, roadside assistance professionals, and consumers. Its solution delivers the quickest, safest, and most innovative roadside assistance service, products and technology by combining location-based services, real-time data, AI, and machine-to-machine communication.

PlaxidityX, originally founded as Argus Cyber Security Ltd., a global leader in mobility cyber security, provides DevSecOps, vehicle protection and fleet protection technologies and services for automotive and mobility manufacturers. PlaxidityX’s solutions ensure that vehicle components, networks, and fleets are secured and compliant throughout their life cycle. PlaxidityX innovative methods and solutions are based on decades of cyber security and automotive research and have culminated in over 70 granted and pending patents.  Founded in 2014, PlaxidityX is headquartered in Israel, with a global footprint in USA, Germany, France, Japan, Korea, Poland and India. Argus’ innovative methods and solutions are based on decades of cyber security and automotive research and have culminated in over 100 granted and pending patents.  Founded in 2014, Argus is headquartered in Israel, with offices in USA, Germany, France, Japan, and Korea.

Allianz X is the digital investment unit of the Allianz Group and part of the Group’s Single Digital Agenda. Allianz X invests in digital growth companies that are part of its ecosystems related to insurance: Mobility, Connected Property, Connected Health, Wealth Management & Retirement, and Data Intelligence and Cybersecurity. It provides an interface between portfolio companies and the digital ecosystem within Allianz as well as drive innovation across Allianz’s operating entities and global lines of business.

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