Propeller Bonds, a Philadelphia, PA-based insurtech startup, raised $6.4M in Seed funding.
The spherical was led by consortium of business companions.
The firm intends to make use of the funds to speed up progress and make investments in individuals, end its growth roadmap, broaden its product base, and enhance advertising and gross sales efforts.
Led by Aaron Steffey and Chris Kolger, Propeller is a digital MGA geared up with a proprietary prompt problem surety bond platform. The firm provides brokers and brokers a white-labeled URL that homes practically 7,000 surety bond obligations and permits each brokers and prospects to cite, pay, and obtain their bonds inside minutes. Beyond this, the system provides underwriting experience through proprietary applications, making the answer a “bolt-on” surety division for a lot of brokers and brokers, in addition to for carriers who associate with Propeller.