NEXT Insurance: From Fintech Dream to $2.6B Acquisition
Deal News | Mar 20, 2025 | TLV Partners LLC
TLV Partners LLC recounts their successful journey with NEXT Insurance and its founders, stemming from an early investment in a consumer fintech company called Check in 2009. Despite challenges, Check was acquired by Intuit for close to $400 million in 2014. In 2016, the founders of Check launched NEXT Insurance, a tech-native insurance company, during a time when Insuretech was relatively unheard of. TLV Partners chose to invest in them again, driven by belief in their quality as founders. Successfully disrupting the insurance industry through technology and data, NEXT Insurance attracted attention from major industry players, leading to its acquisition by Munich RE for $2.6 billion. TLV Partners underlines that partnering with top-tier founders has always been their core strategy, and this acquisition validates their approach.
Sectors
- Venture Capital
- Insurtech
- Insurance
Geography
- United States – The founders' previous venture, Check, was acquired by Intuit, a U.S.-based firm, and NEXT Insurance itself began and largely operates its business within the U.S. market.
Industry
- Venture Capital – The article showcases TLV Partners' strategy and success in identifying and nurturing high-potential founders in emerging industries, relevant to the venture capital industry's focus on early-stage investments.
- Insurtech – NEXT Insurance operates within the insurtech industry, providing a technology-driven approach to traditional insurance, highlighting a significant industry transformation.
- Insurance – NEXT Insurance's operations and significant acquisition by Munich RE fall squarely within the conventional insurance industry's domain while highlighting its disruption.
Financials
- $2.6 billion – The acquisition price Munich RE paid to acquire NEXT Insurance.
- $400 million – The acquisition price Intuit paid to acquire the fintech company Check, prior to the founding of NEXT Insurance.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| TLV Partners LLC | Investor | Company | A venture capital firm investing early in NEXT Insurance, supporting them through several funding rounds. |
| NEXT Insurance | Target | Company | An insurtech company co-founded by Guy, Nissim, and Alon, which has pioneered a tech-driven approach in the insurance industry, ultimately acquired for $2.6 billion. |
| Munich RE | Acquirer | Company | A leading reinsurance entity that acquired NEXT Insurance, expanding its portfolio into innovative insurtech solutions. |
| Guy, Nissim and Alon | Founders | People | Co-founders of NEXT Insurance and former executives at Check, seen as pivotal in the creation and growth of NEXT Insurance. |
| Zeev Ventures | Co-Investor | Company | A venture capital firm that co-led NEXT Insurance's seed round alongside TLV Partners and Ribbit Capital. |
| Ribbit Capital | Co-Investor | Company | A venture capital firm that co-invested in the seed round of NEXT Insurance, alongside TLV Partners and Zeev Ventures. |