Finland and US-based software company simplifying marine cargo insurance industry, Redkik has raised a $3.3 million seed funding round. The round was co-led by Greenlight Re Innovations and MS&AD Ventures, with participation from Fintech Ventures Fund, Plug and Play, and existing investor North Karelia Growth Fund.
The capital infusion will accelerate the platform’s growth and the value they offer in bringing per shipment cargo insurance to the global market. The company plans to continue with cutting-edge research and development to firmly secure their position as the leader in per shipment cargo insurance.
Chris Kalinski, Founder and CEO of Redkik said: “Insurance for shipping is still determined the same way as 30 years ago, with little to no automation, and outdated IT solutions. This results in low efficiency, double-keying, high overhead costs, and complexity for every party within the supply chain. Our mission is to bring intelligence to insurance and make it simple to secure goods and loads. Most annual policies are based upon 12-month forecasts and the policyholder has to pay the premium upfront. Redkik’s technology coupled with our strategic partners’ insurance placement offering facilitates change to the old structure and we are excited to present this groundbreaking, collaborative solution to the transportation industry.”
The company will be building on their partner base across the U.S., Canada, Latin America, SE Asia and Europe.