Barcelona-based Inari secures $5.2m for global insurance tech services

Barcelona-based core technology infrastructure provider Inari has successfully raised $5.2 million in a seed funding round led by Caixa Capital Risc through Criteria Venture Tech. The funding will be instrumental in scaling Inari’s global footprint in insurance and reinsurance technology services.

Expansion and Innovation in the Insurance Technology Sector

The raised capital will enable Inari to execute its long-term growth strategy, which involves team expansion in Barcelona and London, geographical outreach, and technological innovation. According to Frank Perkins, CEO at Inari, “Today’s announcement validates Inari’s vision, value and year-on-year track record as part of our mission to revolutionize the (re)insurance industry. The funding will support enhancements to our product offering, enable us to add to our team’s insurance industry and technology expertise and to expand globally.”

A Comprehensive Client Base and Technological Portfolio

Founded in 2017, Inari has established a diverse client base, including MGAs, Insurance Carriers, Lloyd’s Syndicates, and Reinsurance companies across the globe. The company provides cloud-based, API-enabled platforms that manage the entire insurance policy lifecycle. Inari aims to offer seamless integration with other systems and data sources, thereby enhancing risk lifecycle management.

Industry and Investor Perspectives

Three key investors participated in this round: Caixa Capital Risc, the venture capital arm of Spanish holding company CriteriaCaixa; CDTI, a public organization for technology development in Spain; and a leading industry partner. Xavier Álvarez, director of Tech Funds at Caixa Capital Risc, remarked, “Inari’s innovative approach to insurance infrastructure has the power to redefine how we perceive risk and resilience in the insurance sector. Our investment signifies our belief in their vision and our commitment to fostering innovation in industries ripe for change.”

Veteran Leadership with a Global Vision

Inari was founded by Frank Perkins along with co-founders Veronique Gob, Jochi Jimenez, and Teresa Madariaga, all of whom are veterans in the (re)insurance industry. Their cumulative experience and vision aim to create solutions that are transformative for client operational needs in the rapidly evolving insurance technology sector.