Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Calgary’s Modular Raises Key Insurtech Funding Round
Financing | June 24, 2025
Image: Modular Solutions (CNW Group/Tailwind Ventures Inc.)
Calgary’s Modular Solutions Closes Major Insurtech Seed Round from Strategic and Local Investors
On June 19, 2025, Modular Solutions announced closure of a big seed round led by Tailwind Ventures, with Clear North Capital and an unnamed strategic partner. Although the total financing amount wasn't disclosed, PitchBook data cited in the press release that it ranked among the top five North American insurtech seed deals, and second‑highest pre‑money valuation since January 2023.
See: Zūm Rails and Western Union Deliver Real Time Global Transfers
The funds will be used to streamline onboarding and implementation for insurers and brokers. Also to expand the platform's functionality including artificial intelligence and deepen integrations with insurers, managing general agents (MGAs) and brokers.
Braden Bosch, Founder and CEO of Modular Solutions:
"This capital raise marks a pivotal moment for Modular. We have brought an innovative software solution to the market, and with this investment, we can ensure low total cost of ownership and affordability while continuing to optimize and enhance our offering even further."
Darren Engels, Tailwind Ventures CEO:
"Tailwind is delighted to have supported Modular in securing this financing. Braden and the team at Modular are building transformative solutions for an industry in desperate need of innovation, and our capital partners share our conviction that Modular will deliver."
Other Recent Canadian Insurtech Financings and Acquisitions
Insurtech sector has been heating up for a while now. Below are a couple of recent insurtech rounds:
- PolicyMe (Toronto) raised C$30 million across equity and debt tranches since 2023, backed by Blue Cross Life and Securian Canada. That Series B‑style round supports expansion into life, health, and dental products. It also demonstrates how insurtechs are maturing and scaling B2C and embedded products.
See: Walnut Insurance Raises $4.6M for Embedded Tech Expansion
- YouSet (Montréal) closed an oversubscribed C$3.5 million seed round on August 20, 2024, using a SAFE structure. The round included existing investors such as former Intact EVP Don Fox, Marsh MD Neil Mitchell, and Canavan Capital’s Joe Canavan, as well as new angels including AXA’s Jim Texier, Aviva’s Phil Gibson, and entrepreneur Dan Robichaud. YouSet launched its home and auto-policy bundling platform via that announcement.
- BrokerLink acquisitions - mid‑June 2025, BrokerLink, subsidiary of Intact Financial, acquired three brokerages: Avergate Insurance (Markham, ON), Keyes Insurance Brokers (Gananoque, ON), and CDM Insurance Brokers (Calgary, AB), closing on May 1 and June 1 respectively. These acquisitions expand both Ontario and Alberta footprints and show consolidation activity within the broker channel, indicating that distribution networks are evolving in parallel with tech-led innovation.
Why This Matters
AI powered workflow insurtech platforms that reduce friction are getting funded and transforming the insurance sector. Modular Solutions major seed round also highlights Alberta's emerging fintech and insutech ecosystem.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, artificial intelligence, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
 |  |  |
|---|---|---|
 |  |  |
Leave a Reply