Silicon Valley Bank lends to VC-backed insurtech startup Emma

The loan follows Emma's C$6 million Series A financing, closed earlier this year with the backing of Luge Capital, Investissement Québec and Tactico.

  • Emma was founded in 2018 by Félix and Jacomo Deschatelets to provide a quick and easy experience, same-day coverage and affordable policies to Canadians
  • It recently enhanced its service offering by launching two new products, namely 10-year and 20-year term life insurance
  • Silicon Valley Bank is a subsidiary of SVB FInancial Group

Emma, a Montreal-based online life insurance platform, has secured a C$2 million loan from Silicon Valley Bank.

The loan follows Emma’s C$6 million Series A financing, closed earlier this year with the backing of Canadian investors Luge Capital, Investissement Québec and Tactico.

Emma was founded in 2018 by Félix and Jacomo Deschatelets to provide a quick and easy experience, same-day coverage and affordable policies to Canadians. It recently enhanced its service offering by launching two new products, namely 10-year and 20-year term life insurance. A new platform will also be launched in January.

Karl Théard, director, technology banking, Quebec for Silicon Valley Bank, said in a statement: “Our team at SVB is excited to work with the team at Emma as they continue to scale and grow their insurtech innovation across Canada. Emma is leading positive change in the insurance industry, giving more Canadian families better access to tailored insurance solutions to meet their needs.”

Silicon Valley Bank, a subsidiary of SVB FInancial Group, provides commercial, international and private banking services to help meet the unique needs of innovative businesses.