We recently deep dived into 300+ InsurTech fundraising rounds announced in the European InsurTech scene. This is covering a time period from Q1 2020 to Q3 2023. The idea was to assess how the first quarter of this year compares to previous one, as the startup and tech scenes are currently facing tough time.
Overall, 16 deals have been announced in the CEE startup scene in the last 15 quarters. This accounts for 5% of all InsurTech rounds unveiled over the same period.
On the other hand, only €22 million were invested in startups located in that ecosystem which is a tiny 0.4% of overall funding in Europe over the same period. This makes sense as local startups scenes are rather in early days and growing. Hence, funding rounds tend be lower, in average, compared to more mature startup scenes. For instance, only one deal has been inked over €5m over that period of time in the CEE market.
Nevertheless, there are many tech-based initiative in this InsurTech scene, and startups tend to scale outside of their domestic market earlier in their journey.