Today B3i Services announced the first closing of its Series B funding round. It includes additional investment from existing shareholders and Türk Reasürans as a new stockholder, bringing the number of insurers backing the firm to 21.
Türk Reasürans was set up in 2019 by the Turkish government and is funded by the Ministry of Treasury and Finance.
B3i didn’t reveal the terms of the latest funding round, but the share registry showed a new issuance of 3.6 million one franc preference shares. One franc might be the nominal value, so more than 3.6 million Swiss francs may have been paid. However, these new shares have liquidation rights compared to the existing 30.6 million shares.
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