TLDR:
Summit, a digital insurance brokerage based in Kelowna, raised $3.5 million CAD in a seed round led by New York-based IA Capital Group and Calgary-based Harvest Ventures. The company plans to use the funding to scale its revenue team and enhance its technology infrastructure. Summit offers various insurance products to businesses, including construction, nonprofits, and other FinTech firms.
Canadian startup Summit raises $3.5 million CAD in seed funding
New York-based IA Capital Group and Calgary-based Harvest Ventures lead the round
Kelowna-based digital insurance brokerage Summit has secured $3.5 million CAD in seed funding to expand its technology infrastructure and revenue teams. The round was led by IA Capital Group from New York and included a follow-on investment from Harvest Ventures in Calgary. The funding brings Summit’s total funding to $4.8 million CAD, with plans to explore additional financing rounds due to oversubscription and interest from other VCs.
Founded in 2022, Summit offers digital insurance solutions to various businesses, including construction, nonprofits, and other FinTech companies. The company aims to use technology to enhance compliance, risk management, and contractor management for large enterprises. Summit’s unique approach to digitally delivering policies and risk management data sets it apart in the commercial insurance space.
