Cachet, an insurtech firm headquartered in Tallinn, has announced a new funding round spearheaded by Nordic venture capital firm Spintop Ventures. The investment brings the company's cumulative capital raised to approximately €11 million. Returning backers Truffle Capital and Icebreaker.vc joined the round, which represents Cachet's first capital injection following its achievement of profitability. Operating across 16 European markets, Cachet develops tailored insurance products for platform-based businesses, currently serving mobility and gig-economy operators including Bolt, Voi, Ryde and Turo.
Founded in 2018, Cachet partners with platform economy companies to create and embed insurance offerings that reflect actual usage patterns of vehicles, workers and services. Rather than developing coverage independently, the company collaborates with traditional insurers who furnish the underlying risk capacity. The fresh capital will support several strategic initiatives: broadening the product portfolio, strengthening the sales organization, creating insurance frameworks for emerging business models such as employer-of-record services and autonomous mobility systems, and expanding deployment of its risk-control engine powered by real-time operational data.
Cachet's risk-control engine represents a distinctive approach to insurance management. By processing live operational information, the system delivers actionable insights to platform partners during active policies, emphasizing incident prevention rather than post-event claims processing. This technology was initially validated in Nordic markets and will now extend to additional European regions.
We are building the adaptive insurance infrastructure for what comes next, from shared and autonomous vehicles to distributed work and AI liability. We've built a strong foothold, supporting over 50 platform economy partners to control their risk and reduce their losses. With this round, Cachet is ready to accelerate and become the insurance partner for these new markets.
Hedi Mardisoo, CEO and co-founder of Cachet
There is a lot of noise right now from insurance start-ups burning capital to buy growth at high valuations. Cachet has taken the opposite route: build the infrastructure, reach profitability, then raise to go further and faster. What they have built so far, and their ambition for the next step, made them the right choice for our first investment in Estonia.
Erik Wenngren, Partner at Spintop Ventures
Source: ArcticStartup
