Insurtech provider Foxquilt nets $1.2 mln in Extreme VP-led deal

Foxquilt, a Toronto-based insurance financial technology provider, has raised $1.2 million in a seed-stage financing. The round was led by Canadian early-stage venture capital firm Extreme Venture Partners. Foxquilt was launched in 2016 by CEO Mark Morissette and Karim Jamal, both formerly with Real Matters and Aviva Canada. Its platform uses big data and machine learning to help social groups save on home, small business and auto insurance. Foxquilt will use the funds raised to develop its technology and grow through sales and marketing and customer acquisition in Ontario.

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