Intact makes strategic investment in venture-backed Metromile
Intact Financial Corp has made a strategic investment in Metromile Inc, a car insurance technology company based in San Francisco. No financial terms were disclosed. Metromile aims to give customers more affordable car insurance and transparent pricing through a pay-per-mile insurance model. It also offers detailed vehicle diagnostics via a driving app. Intact, a Canadian property and casualty insurance provider, said it invested because it believes the company is "redefining the marketplace." Launched in 2011, Metromile is backed by Felicis Ventures, First Round Capital, Index Ventures, NEA and SV Angel.
16 February 2016•4 mins read
