# Corporate VCs backing Insurtech (2026 list)

> 34 corporate VCs backing Insurtech, 91% active in the last 12 months. Led by Wayra, Coinbase Ventures, Endeavor Catalyst. Ranked by what they funded.

Source: https://millionrounds.com/lists/corporate-vcs-insurtech (Millionrounds; every figure on the page links to its filing or article)

[Investor Lists](https://millionrounds.com/lists)

# Corporate VCs backing Insurtech

Updated 7 November 2026

Corporate VCs we have observed in an insurtech round in the last two years.

[See all 34 *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-insurtech)The top 25

**34** investors on the list *+2* this week

**436** cheques in 12 months *-13%* against the market

**$20M** median round they joined *+155%* against the market median

**91%** wrote a cheque in 12 months

**44%** have led a round

## The Top 25

Ordered by cheques observed, never by anything anyone paid for

Deploying now (25)

- 1 [Wayra](https://millionrounds.com/fund/wayra) *Deploying now* Corporate VC · Germany **1,160** **$2M** median round **Sept 2026** last seen
- 2 [Coinbase Ventures](https://millionrounds.com/fund/coinbase) *Deploying now* Corporate VC · United States **465** **$9.8M** median round **Nov 2026** last seen
- 3 [Endeavor Catalyst](https://millionrounds.com/fund/endeavor-catalyst) *Deploying now* Corporate VC · United States **318** **$30M** median round **Oct 2026** last seen
- 4 [Qualcomm Ventures](https://millionrounds.com/fund/qualcomm-ventures) *Deploying now* Corporate VC · United States **228** **$20M** median round **Oct 2026** last seen
- 5 [M Ventures](https://millionrounds.com/fund/m-ventures) *Deploying now* Corporate VC · Switzerland **143** **$15M** median round **Sept 2026** last seen
- 6 [Sony Innovation Fund](https://millionrounds.com/fund/sony-innovation-fund) *Deploying now* Corporate VC · Japan **142** **$10M** median round **Sept 2026** last seen
- 7 [Eli Lilly](https://millionrounds.com/fund/eli-lilly) *Deploying now* Corporate VC · United States **137** **$56M** median round **Nov 2026** last seen
- 8 [Barclays Ventures](https://millionrounds.com/fund/barclays-ventures) *Deploying now* Corporate VC · United Kingdom **128** **$23M** median round **Oct 2026** last seen
- 9 [Rabobank](https://millionrounds.com/fund/rabobank) *Deploying now* Corporate VC · Netherlands **122** **$3.2M** median round **Nov 2026** last seen
- 10 [SE Ventures](https://millionrounds.com/fund/se-ventures) *Deploying now* Corporate VC · United States **112** **$16M** median round **Oct 2026** last seen
- 11 [Endeavor](https://millionrounds.com/fund/endeavor) *Deploying now* Corporate VC · United States **106** **$25M** median round **Sept 2026** last seen
- 12 [Susquehanna International Group (SIG)](https://millionrounds.com/fund/susquehanna-international-group-sig) *Deploying now* Corporate VC · United States **64** **$8.5M** median round **Aug 2026** last seen
- 13 [Accenture Ventures](https://millionrounds.com/fund/accenture-ventures) *Deploying now* Corporate VC · Ireland **62** **$25M** median round **Aug 2026** last seen
- 14 [Kaiser Permanente Ventures](https://millionrounds.com/fund/kaiser-permanente-ventures) *Deploying now* Corporate VC · United States **59** **$35M** median round **May 2026** last seen
- 15 [Orange Ventures](https://millionrounds.com/fund/orange-ventures) *Deploying now* Corporate VC · France **53** **$11M** median round **Sept 2026** last seen
- 16 [Munich Re Ventures](https://millionrounds.com/fund/munich-re-ventures) *Deploying now* Corporate VC · United States **46** **$23M** median round **Nov 2026** last seen
- 17 [PayPal Ventures](https://millionrounds.com/fund/paypal-ventures) *Deploying now* Corporate VC · United States **34** **$24M** median round **Mar 2026** last seen
- 18 [Workday Ventures](https://millionrounds.com/fund/workday-ventures) *Deploying now* Corporate VC · United States **27** **$30M** median round **Jun 2026** last seen
- 19 [IBK Capital](https://millionrounds.com/fund/ibk-capital) *Deploying now* Corporate VC · South Korea **25** **$6.4M** median round **Feb 2026** last seen
- 20 [Coinbase](https://millionrounds.com/fund/coinbase-ventures) *Deploying now* Corporate VC · United States **21** **$29M** median round **Oct 2026** last seen
- 21 [Liberty Mutual Strategic Ventures](https://millionrounds.com/fund/liberty-mutual-strategic-ventures) *Deploying now* Corporate VC · United States **13** **$29M** median round **Jul 2026** last seen
- 22 [Credit Saison](https://millionrounds.com/fund/credit-saison) *Deploying now* Corporate VC · Japan **10** **$26M** median round **Aug 2026** last seen
- 23 [Allianz X](https://millionrounds.com/fund/allianz-x) *Deploying now* Corporate VC · Germany **9** **$176M** median round **Oct 2026** last seen
- 24 [Bain Capital Crypto](https://millionrounds.com/fund/bain-capital-crypto) *Deploying now* Corporate VC · United States **8** **$51M** median round **Oct 2026** last seen
- 25 [IDB Lab](https://millionrounds.com/fund/idb-lab) *Deploying now* Corporate VC · United States **6** **$11M** median round **Oct 2026** last seen

**9 more on this list**

All 34 are in the app, with filters for stage, sector and market. A free account shows 10 per search, Pro up to 1,000.

[See the whole list *→*](https://millionrounds.com/login?join=1&next=%2Fapp%2Finvestor-lists%2Fcorporate-vcs-insurtech)

## The Newest Cheques

Rounds this list's investors joined most recently

- **5** Nov **[T-Therapeutics](https://millionrounds.com/company/t-therapeutics)** Series B · $133M *With* [Eli Lilly](https://millionrounds.com/fund/eli-lilly)
- **5** Nov **[Soter Insure](https://millionrounds.com/company/soter-insure)** Series B *With* [Coinbase Ventures](https://millionrounds.com/fund/coinbase)
- **5** Nov **[Return](https://millionrounds.com/company/return)** Debt · $936M *With* [Rabobank](https://millionrounds.com/fund/rabobank)
- **4** Nov **Sentra** Series C · $150M *With* [Munich Re Ventures](https://millionrounds.com/fund/munich-re-ventures)
- **3** Nov **[Omni](https://millionrounds.com/company/omni)** Round *With* [Greenrock](https://millionrounds.com/fund/greenrock)
- **2** Nov **[General Medicine](https://millionrounds.com/company/general-medicine)** Series B · $120M *With* [Eli Lilly](https://millionrounds.com/fund/eli-lilly)

## Stages This Year

403 rounds

- Series A **19%**
- Venture **18%**
- Series B **12%**
- Seed **12%**
- Debt **10%**
- Other **30%**

## What They Backed

Sectors, last 12 months

- AI **135**
- Fintech **69**
- Web3 & Crypto **47**
- Healthcare **32**
- Biotech **31**
- Big Data & Analytics **26**

## Cheques by Quarter

Led Joined

128 Q1 25

126 Q2 25

124 Q3 25

148 Q4 25

142 Q1 26

114 Q2 26

113 Q3 26

26 Q4 26

The last bar is the quarter still running.

## Lists Like This

- [VC firms backing AI 4,329](https://millionrounds.com/lists/vc-firms-ai)
- [VC firms backing Fintech 1,856](https://millionrounds.com/lists/vc-firms-fintech)
- [VC firms backing Big Data & Analytics 1,248](https://millionrounds.com/lists/vc-firms-big-data)
- [VC firms backing Biotech 1,207](https://millionrounds.com/lists/vc-firms-biotech)
- [VC firms backing Robotics 1,098](https://millionrounds.com/lists/vc-firms-robotics)
- [VC firms backing Construction 1,025](https://millionrounds.com/lists/vc-firms-construction)
- [VC firms backing Energy 998](https://millionrounds.com/lists/vc-firms-energy)
- [PE firms backing AI 956](https://millionrounds.com/lists/pe-firms-ai)
- [VC firms backing Cybersecurity 950](https://millionrounds.com/lists/vc-firms-cybersecurity)

[All investor lists *→*](https://millionrounds.com/lists)

## Reading for founders in fintech and financial services

- Bank 4.0: Banking everywhere, never at a bank Brett King · 2018 4.07 from 622 ratings on Goodreads Fintech and financial services Company building About the book In the final book in the digital 'BANK'; series, Brett King tackles the topic of whether banks have a future at all in the emerging, technology embedded world of the 21st century. In 30-50 years when cash is gone, cards are gone and all vestiges of the traditional banking system… On AmazonListen on Audible
- Why Aren't They Shouting?: A Banker's Tale of Change, Computers and Perpetual Crisis Kevin Rodgers · 2016 4.26 from 222 ratings on Goodreads Fintech and financial services Company building About the book When Kevin Rodgers embarked on his career in finance, dealing rooms were seething with clamouring traders and gesticulating salesmen. Nearly three decades later, the feverish bustle has gone and the loudest noise you’re likely to hear is the gentle tapping of keyboards. Why… On AmazonListen on Audible
- The Innovation Stack: Building an Unbeatable Business One Crazy Idea at a Time [Jim McKelvey](https://millionrounds.com/person/jim-mckelvey) · 2020 4.22 from 1,839 ratings on Goodreads Fintech and financial services Innovation Company building About the book From the cofounder of Square, an inspiring and entertaining account of what it means to be a true entrepreneur and what it takes to build a resilient, world-changing company In 2009, a St. Louis glassblowing artist and recovering computer scientist named Jim McKelvey lost a… On AmazonListen on Audible
- Service Design: From Insight to Implementation Andy Polaine · 2013 4.05 from 605 ratings on Goodreads Fintech and financial services Company building About the book We have unsatisfactory experiences when we use banks, buses, health services and insurance companies. They don't make us feel happier or richer. Why are they not designed as well as the products we love to use such as an Apple iPod or a BMW? The 'developed' world has moved… On AmazonListen on Audible

More books for founders and investors on the [Reading List](https://millionrounds.com/reading-list?role=founder&industry=fintech).

As an Amazon Associate we earn from qualifying purchases.

## Quick answers about corporate VCs backing Insurtech

### Who are the most active corporate VCs backing Insurtech?

By cheques observed, the most active are Wayra, Coinbase Ventures, Endeavor Catalyst, Qualcomm Ventures and M Ventures.

### How many corporate VCs backing Insurtech are there?

34 are on record. 91% made an investment in the last 12 months and 44% have led a round.

### Which stages do corporate VCs backing Insurtech back?

Of the rounds with a named stage in the last 12 months, mostly Series A (26%) and Series B (16%).

### How big are the rounds corporate VCs backing Insurtech join?

The typical (median) round among the leading investors here is $23M.

### Which sectors do corporate VCs backing Insurtech back most?

In the last 12 months, mostly AI, Fintech and Web3 & Crypto.

### Which corporate VCs backing Insurtech lead the most rounds?

PayPal Ventures (9 led), Qualcomm Ventures (6 led) and Barclays Ventures (5 led).

### Where are corporate VCs backing Insurtech based?

Among the most active, most are based in the United States (15), Germany (2) and Japan (2).

### What have corporate VCs backing Insurtech invested in recently?

Recent rounds include T-Therapeutics (Series B, Nov 2026, with Eli Lilly), Soter Insure (Series B, Nov 2026, with Coinbase Ventures) and Return (Debt, Nov 2026, with Rabobank).

Built from the rounds we watched, refreshed every night. [How we count](https://millionrounds.com/methodology) · [Report a correction](https://millionrounds.com/corrections)