Corgi banked €97.5M ($106M) in a Series B1 round led by Kindred Ventures, with participation from Prime Capital, Leblon Capital, Alumni Ventures, and Y Combinator. The capital injection comes just three weeks after the company announced a €147M Series B, effectively doubling its valuation to €2.4B ($2.6B) in less than a month.
The London-based startup provides business insurance specifically tailored for early-stage companies and tech firms. Its coverage handles modern liability risks that legacy insurers often struggle to price, including cyber threats and financial losses caused by AI system failures, misinformation, or operational non-compliance. Current customers include global payroll platform Deel and AI agent startup Artisan.
This latest round brings Corgi's total funding to approximately €348M ($378M). The company plans to use the capital to scale its AI-native underwriting platform and expand into new insurance categories. Management attributes the rapid succession of rounds to the capital-intensive nature of the insurance industry and accelerating demand for embedded distribution partnerships.
Frequent internal markups and back-to-back rounds are becoming a defining characteristic of high-performing European fintechs as they race to secure market share in specialized risk categories.
Originally reported by TechCrunch.