- Arbol Inc., a New York-based InsurTech company, closed a nearly $7m Series A funding
- Backers included Finch Finance LLC and Space Capital, and Mubadala Capital-Ventures
- The company intends to use the funds to continue to expand operations and its business reach
- Led by Sid Jha, founder and CEO, Arbol is an InsurTech platform for parametric products that pay quickly and fairly covering external risks such as unexpected weather
- The company uses Big Data, machine learning, and smart contracts to bring transparency and efficiency to the weather risk market
- Its platform facilitated hundreds of deals for institutional clients representing more than $15 million in notional risk over its first eight months of live transactions
