Descartes collaborates with brokers across the world to protect their corporate clients & governments against natural catastrophes, weather, and emerging risks, through a unique data-driven approach.
OUR PURPOSE
Descartes was born out of the conviction that climate change calls for a revolutionary approach in insurance to better protect corporations and governments. Catastrophe and man-made disasters are increasing year on year under demographic pressure & climate change. At Descartes, we seek to help clients become more resilient, not just insure them. Resilience is greater than just protection; we aim to meet the evolving needs in our complex world by giving clients the ability and strength to quickly bounce back – empowering them to cope with climate change.
HOW WE WORK
Traditional insurance products are often not transparent, expensive and despite the urgency, claims are processed slowly. At the forefront of artificial intelligence for risk modeling, we challenge the status quo. We apply new technologies such as image recognition or machine learning combined with new generations of data sources, coming from satellites or IoT, to assess and manage risks. This makes our products fairer, since all pricing and underwriting is based on advanced data, faster and more accurate at paying claims. Our approach is parametric - clients know exactly which event triggers what payment.
WHO WE ARE
Descartes Underwriting is a Managing General Agency working only with brokers. We underwrite insurance policies on behalf of a selected number of first-tier insurers, reinsurers, and Insurance-Linked Securities funds. We have the capacity to underwrite USD 200 million per deal & our span is global thanks to our partners. Founded in the heart of Paris’ business district in 2018, we are proud to be a forward-looking and multicultural team backed by international risk carriers and financed with USD 21.5 million by BlackFin Capital Partners, Serena & Cathay Innovation.
OUR PURPOSE
Descartes was born out of the conviction that climate change calls for a revolutionary approach in insurance to better protect corporations and governments. Catastrophe and man-made disasters are increasing year on year under demographic pressure & climate change. At Descartes, we seek to help clients become more resilient, not just insure them. Resilience is greater than just protection; we aim to meet the evolving needs in our complex world by giving clients the ability and strength to quickly bounce back – empowering them to cope with climate change.
HOW WE WORK
Traditional insurance products are often not transparent, expensive and despite the urgency, claims are processed slowly. At the forefront of artificial intelligence for risk modeling, we challenge the status quo. We apply new technologies such as image recognition or machine learning combined with new generations of data sources, coming from satellites or IoT, to assess and manage risks. This makes our products fairer, since all pricing and underwriting is based on advanced data, faster and more accurate at paying claims. Our approach is parametric - clients know exactly which event triggers what payment.
WHO WE ARE
Descartes Underwriting is a Managing General Agency working only with brokers. We underwrite insurance policies on behalf of a selected number of first-tier insurers, reinsurers, and Insurance-Linked Securities funds. We have the capacity to underwrite USD 200 million per deal & our span is global thanks to our partners. Founded in the heart of Paris’ business district in 2018, we are proud to be a forward-looking and multicultural team backed by international risk carriers and financed with USD 21.5 million by BlackFin Capital Partners, Serena & Cathay Innovation.
Location: France, Ile-de-France, Puteaux
Employees: 51-200
Total raised: $258.5M
Founded date: 2018
Investors 5
| Date | Name | Website |
| - | BlackFin C... | blackfincp... |
| - | Cathay Cap... | cathaycapi... |
| - | Seaya | seaya.vc |
| - | BlackFin T... | blackfin-t... |
| - | BlackFin C... | blackfin.c... |
Funding Rounds 3
| Date | Series | Amount | Investors |
| 23.08.2022 | Series B | $120M | - |
| 31.01.2022 | Series B | $120M | - |
| 10.09.2020 | Series A | $18.5M | - |
Mentions in press and media 23
| Date | Title | Description |
| 03.10.2025 | Serena VC Secures €200M, Fuels Europe's AI and Green Tech Revolution | Serena, a prominent European VC firm, announced the first close of its Serena IV fund at €200 million. This significant raise elevates its total capital to €1 billion, achieved in under five years. The fund strategically targets high-growth... |
| 01.10.2025 | Paris-based Serena raises €200 million to back applied AI and energy transition | Paris-based venture capital firm Serena has announced the first closing of its fourth flagship fund at €200 million, bringing its total capital raised to €1 billion in less than five years. The new fund will focus on applied artificial inte... |
| 01.10.2025 | Serena raises €200M for applied AI and energy transition | Serena, a European venture capital firm, announces the first close of its fourth flagship fund, Serena IV, at €200 million. Commitments come from longstanding LPs as well as new institutional and private investors in France and internationa... |
| 10.01.2024 | CTVC on Insurance & ClimateTech Insurance, the icing on the capital stack cake | CTVC is the industry leading newsletter powered by Sightline Climate. Their data-driven perspectives power 60,000 investors and operators to innovate on climate. Reach out to hello@ctvc.co |
| 31.05.2023 | Data snapshot: France bucks global trend as agrifoodtech investment surges 39% in 2022 | Data snapshot is a regular AFN feature analyzing agrifoodtech market investment data provided by our parent company, AgFunder. Click here for more research from AgFunder and sign up to our newsletters to receive alerts about new research re... |
| 11.07.2022 | Paris-based BlackFin Capital Partners announces 2nd close of Tech 2 Fund at €350M | Paris-based BlackFin Capital Partners, a private equity and venture capital firm focusing on financial services, announced on Monday the second closing of its Tech 2 fund at €350M. With the new fund, the firm doubles down on its strategy to... |
| 04.02.2022 | This Week in European Tech: new unicorns in Vienna, Oslo and Dublin, MariaDB and GP Bullhound go SPAC, interesting acquisitions by Meta, Glovo, Canva and Withings, and more | Happy Friday! This week, the Tech.eu research team tracked more than 120 tech funding deals worth over €2 billion, and over 35 exits, M&A transactions, and rumours, and related news stories across Europe, including Russia and Turkey. As... |
| 31.01.2022 | Paris-based parametric insurtech firm Descartes Underwriting raises €107M; to expand offering | Descartes Underwriting, a Paris-based insurtech company specialising in next-generation parametric insurance, announced that it has raised $120M (approx €107M) in a Series B round of funding. The round was led by Highland Europe alongside E... |
| 31.01.2022 | The metaverse could be ripe for crime, child abuse, and misinformation without regulation | This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. If you’ve struggled to envision your virtual self in the metaverse, you’re not alone. Paid Conten... |
| 31.01.2022 | Descartes Underwriting raises $120 million | Descartes Underwriting Descartes Underwriting Founded: 2018 Headquarters: Paris, France Total Funding: $20.77M See full company profile "> closed a $120 million Series B funding round led by Highland Europe with participation from E... |
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