Montreal VC Luge Capital Invests in Finaeo
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Luge Capital, a Montreal venture capital fund that is focused on FinTech and AI solutions, announced last week that it had finalized a $5.35 million investment in the InsurTech company, Finaeo. Luge Capital led the investment round and was alongside Canadian firm Impression Ventures, iNovia Capital and companies RGAx and Rising Tide Ventures, both of which are based in the United States.
Finaeo is headquartered in Toronto and created the world’s first digital marketplace that provides insurance advisors with live application data, status updates, and other tools geared at improving efficiency and value in the insurance industry. According to Finaeo, the company is shaping the future of insurance and leading it towards a more personalized experience.
As for Luge Capital, this is the second investment in the FinTech space made by the growing Montreal VC. They announced in July 2018 that they had invested in a $1.75 million seed round for Montreal-based, Flinks. Their area of focus is on startups that are improving the way financial services are delivered in the markets.
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