Ascend Raises $30M Series A, Secures $250M Loan Commitment to Boost Modern Insurance Payment Offerings
The Series A funding was led by
Ascend’s payment APIs and no-code products automate end-to-end insurance payments – from online point of sale with buy now, pay later financing to distribution of insurance commissions and liabilities. ‘operator. This enables insurance brokers, MGAs and insurers to sell more policies by eliminating labor-intensive processes while providing customers with the excellent online payment and funding experience they crave. wait.
“We have seen a huge increase in demand over the past six months since our launch. Our payment software significantly reduces buying friction for customers purchasing insurance while simultaneously reducing or eliminating business processes traditionally at labor-intensive for brokers, AGs and carriers,” says
The funding will be used to hire dozens of new team members – 50% of Ascend employees are from groups typically underrepresented in tech. The team will play a critical role in expanding the product’s rapid growth and improving feature sets, including user experience for no-code clients, integrations with the industry’s dominant agency management systems. industry and ensuring that the full suite of product features is easily accessible in the APIs so that customers can use the product to its full potential. The lending capacity will be used to streamline business and personal lines of insurance lending, helping to ease friction with modern financing infrastructure and growing demand for high-quality customer experiences.
“Buying commercial insurance is surprisingly complicated – I’ve seen this problem first hand through our investments in companies like
Today, Ascend operates nationwide in all 50 states and works with industry-leading customers including Vouch, Cowbell, Newfront,
Ascend is the modern insurance payments platform that provides automated financing, collections and accounts payable all-in-one. Founded by two insurtech entrepreneurs
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