Nordic neo insurer Hedvig announces that it closed a US$45 million Series B funding round led by Anthemis following its recent launch into Denmark.

The Series B investment was led by Anthemis Partner, Ruth Foxe Blader, and Managing Director, Matthew Jones. Blader previously led AllianzX’s investment into US insurer, Lemonade.

Matthew Jones, Managing Director at Anthemis will also be joining the Hedvig Board of Directors.

The round also saw participation from existing investors Cherry Ventures, Obvious Ventures, CommerzVentures, along with Swedish Novax, Nineyards Equity, Jonas Kamprad and Mathias Kamprad.

With this new round of funding, Hedvig is accelerating its European expansion agenda and plans to launch in its fourth market in the coming months outside of the Nordics.

Prior to the series B round, Hedvig raised a total of US$23 million and secured partnerships with reinsurers SCOR and Hannover Re.

Lucas Carlsén, CEO and Co-founder of Hedvig said,

“Anthemis’ deep understanding and experience of both financial technology and insurance make them the perfect ally as we scale this proposition across Europe.”