Norwegian Insurance Software Tops Crowdfunding Target

Oslo-based insurance software startup Cloud Insurance reached top range of its crowdfunding target on Thursday and closed investment round a few days early.

Cloud Insurance raised 947,160 Norwegian crowns (100,000 euros), selling around 6.5 percent of the company to new investors and marking the first financed company in Norway for Invesdor platform.

“Over the past three years we have made heavy investments into creating proven and truly scalable software for the insurance industry. With a few, but valued and global customers headquartered in Scandinavia, the UK and USA, we have made traction even without any marketing,” the company said.

“Now we are inviting strategic partners to join the next phase, which involves launching the service to the world with a clear ambition to gain a significant market share,” it said.