Zensurance secures Series B financing
Toronto-based digital commercial insurance platform Zensurance has secured Series B funding from its parent company Travelers , which will be used to scale employee recruitment and grow served customers to over 150,000 Canadian small businesses.
Founded in 2016, Zensurance is currently a team of 90 people led by founder and CEO, Danish Yusuf. Since its last round of funding in 2018, Zensurance has successfully digitized significant parts of the commercial insurance value chain, creating custom, industry-specific insurance products suited for digital distribution and established partnerships with over 50 insurance providers.
“We’ve come a long way since our inception in 2016. We are thrilled to have the capital and strategic support from Travelers to take Zensurance to the next level. We intend to accelerate our ability to provide small businesses in numerous industries across Canada with a trustworthy, modernized and competitive commercial insurance solution. With this additional funding, we will continue to expand our workforce of highly skilled and passionate employees, helping to contribute to economic and employment growth in Canada’s insurtech space. In fact, we have recently hired our 100th employee and have a plan to double that in the short term.” – Founder and CEO, Danish Yusuf.
In May, Zensurance reached a major milestone by signing its 10,000th policy.