Caixa Capital Risc investment in the technology services sector for the insurance industry. Through the Criteria Venture Tech fund, the management company of La Caixa Banking Foundation has led an investment of 4.85 million euros in Inari, a technology company with offices in Barcelona and London, provider to the global insurance and reinsurance industry.
The investment round will be used to boost Inari's international growth strategy, and it has also seen participation from the Centre for the Development of Industrial Technology (CDTI) and an "international leader" company in the sector, whose identity has not been disclosed.
"The resources obtained in the round will allow Inari to consolidate its position as a world leader and boost its long-term growth strategy, which includes expanding teams in London and Barcelona, increasing its international presence, and developing new functionalities to meet the needs of its current and future clients," Caixa Capital Risc highlighted.
Inari has developed a blockchain technology and cloud services platform that allows insurance companies to better manage their risks by optimizing data usage and increasing productivity. "Inari's innovative approach to insurance technology has the potential to change how risk and resilience are perceived in the insurtech sector. This investment reflects our confidence in their vision and our commitment to driving innovation in industries ready for transformation. We are pleased to join Inari on this journey to help them grow and revolutionize this critical segment of the industry," said Xavier Álvarez, director of technology funds at Caixa Capital Risc.
The insurtech was founded in Barcelona in 2017 by Frank Perkins, Veronique Gob, Jochi Jiménez, and Teresa Madariaga, professionals with experience in the reinsurance industry. Their software, they assure, is a pioneer in the sector and can be implemented as independent modular solutions or integrated with other technological platforms. "Today's announcement validates Inari's vision, value, and year-over-year track record as part of our mission to revolutionize the insurance industry, consolidating us as a trusted industry provider that attracts talent and investors. This funding will support further enhancements to our product offering, and allow us to expand the technological and industrial expertise of our team, and expand globally," said Frank Perkins, CEO of Inari.
Caixa Capital Risc manages more than 200 million euros and is part of the CriteriaCaixa investment group, the financial arm of La Caixa, with investments totaling more than 25,000 million euros in assets. The dividends generated by Criteria, CaixaBank's reference shareholder, allow the La Caixa Banking Foundation to finance its Social Work, with an annual budget exceeding 500 million euros.