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Foxquilt

Insurtech platform for SMEs

Foxquilt logo
21-100 employees
  • B2B
  • Marketplace
  • Insurance
  • Mobile
  • Data Analysis
South Core, Toronto, ON

Company mission

Foxquilt's mission is to empower small to medium sized businesses and B2B networks to save on business insurance.

Our take

SMEs have historically been underserved by traditional insurance companies, in spite of them constituting the vast majority of businesses in regions like the US, Canada, and Europe. That tide is turning, however, with insurers recognizing the growth potential of this market - especially with SMEs looking now to invest more in tailored coverage following a rocky pandemic period. Foxquilt is an insurance-as-a-service platform startup looking to address this shortfall, helping SMBs and B2B networks make savings on business insurance across most of North America.

The Foxquilt model follows a broader pattern of startups looking to fix the problem customers face across the board in areas like motor and home insurance: purchasing one-size-fits-all policies that wind up costing more and providing imperfect coverage. Only recently, however, has the same model been carried over to SMEs, so Foxquilt is part of a lively but fairly competitive scene.

In North America, this includes SME-dedicated startups like NEXT, along with broader offerings from traditional providers like Hiscox. It makes for a tough field, with Foxquilt’s mobile-friendly, instant-cover features increasingly becoming industry standard. The company may need to focus more aggressively on differentiating itself from the crowd, but has made strong strides already for its relatively recent launch date.

Steph headshot

Steph

Company Specialist at Welcome to the Jungle

Benefits

  • Equity in Foxquilt (Employee Stock Options)
  • Flexible extended health and dental benefits
  • Holidays + an extra day off on your birthday
  • Casual dress-code
  • Social events, regular celebrations of milestones, and birthdays
  • Flexible work environment, with opportunities to work from home

Funding (last 2 of 4 rounds)

Jul 2023

$12m

SERIES B

Sep 2021

$8m

SERIES A

Total funding: $23.5m

Leadership

Spent a decade with Aviva Canada, before serving as director of operations at iv3 Loss Control Solutions.

Worked as a broker with Aviva Canada, before moving on to hold various VP roles at Real Matters.