The auto insurance industry in the Nordics is burgeoning, characterized by a mix of traditional providers and innovative insurtech startups. Companies engage with customers through advanced digital platforms, offering tailored auto insurance products to meet varying needs. The sector is witnessing a shift towards technology-driven solutions, improving customer service and streamlining underwriting processes. Moreover, the rise of electric vehicles pushes firms to rethink their risk assessment and policy design. With increasing competition, innovation in product offerings and enhanced customer experiences are becoming key focal points for companies eager to capture and retain market share.

This list highlights 17 prominent investors in the Nordic auto insurance sector, showcasing a range of venture capital and private equity firms. Headquartered primarily in Stockholm and Copenhagen, these firms vary in size, from small funds to major players with thousands of employees. Founded between the 1930s and 2010s, these investors displayed a strong investment appetite in 2024, with notable deal counts demonstrating their active role in shaping the auto insurance landscape. Their commitment to innovation signifies a broader trend toward modernization within this essential industry.

Top 17 Auto Insurance Investors in the Nordics

1. Nordic Capital

• Website: nordiccapital.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1989
• Headcount: 201-500
• Number of deals in 2024: 10
• LinkedIn: nordic-capital

Nordic Capital is a private equity firm based in Stockholm, Sweden, founded in 1989. The firm specializes in investments across various sectors, including healthcare and technology, and is known for partnering with management teams to drive growth and operational improvements in portfolio companies. Nordic Capital focuses on creating long-term value and sustainability in its investments, catering primarily to institutional investors seeking sustainable opportunities. Notably, Nordic Capital has made significant investments in the auto insurance context, including the acquisition of Solid Forsakrings in 2012, which directly ties them to the insurance industry. In 2024, they invested in One Inc, an InsurTech company, to accelerate growth and innovation in the insurance sector. Additionally, their acquisition of Ryds Bilglas, a leading vehicle glass repair and replacement company, further emphasizes their involvement in the automotive and insurance markets. These transactions illustrate Nordic Capital's active role in sectors related to auto insurance.

2. Söderberg & Partners

• Website: soderbergpartners.se
• Type: Corporate
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2004
• Headcount: 1001-5000
• Number of deals in 2024: 4
• LinkedIn: soderberg-%26-partners

Söderberg & Partners is a financial advisory firm based in Stockholm, Sweden, founded in 2004. The firm provides a comprehensive range of services, including pension advisory, insurance brokerage, and wealth management, catering to both individual consumers and businesses. They have a strong presence across multiple countries, offering tailored solutions to enhance financial security and investment strategies. Notably, Söderberg & Partners has been active in the insurance sector, having acquired Frisia Verzekeringen, which is part of VMN media, and Ensure International Insurance Broker. Additionally, their acquisition of a 74% stake in Grupo Galilea, one of the largest independent insurance brokers in Spain, further solidifies their position in the insurance market. These transactions highlight their commitment to expanding their insurance brokerage capabilities, which likely includes auto insurance products.

3. Kinnevik

• Website: kinnevik.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1936
• Headcount: 11-50
• Number of deals in 2024: 10
• LinkedIn: investment-ab-kinnevik

Kinnevik is a Stockholm-based venture capital investment company founded in 1936. The firm partners with innovative entrepreneurs across various sectors, including healthcare, software, marketplaces, and climate tech, providing both capital and operational support to help these companies scale and create long-term value. Notably, Kinnevik has invested in several insurance firms, such as Sure, which raised $100 million in a Series C funding round to enhance its global expansion and improve customer experiences in embedded insurance. Additionally, Kinnevik led a $35 million Series B funding round for SafetyWing, an insurance firm focused on remote health solutions, reflecting their interest in modern insurance models. Kinnevik also participated in multiple funding rounds for BIMA, a microinsurance provider, showcasing their ongoing commitment to the insurance sector. These transactions highlight Kinnevik's strategic investments in companies that are redefining the insurance landscape, including areas relevant to auto insurance.

4. Creandum

• Website: creandum.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2003
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: creandum

Creandum is a venture capital firm based in Stockholm, Sweden, founded in 2003. The firm specializes in supporting early-stage entrepreneurs in building global, category-defining companies across various sectors, including fintech and health tech. Creandum provides venture capital investment, strategic support, and networking opportunities to startups, nurturing them from seed to IPO. Notably, Creandum has invested in Laka, a London-based bicycle insurance company, which raised over $12 million in Series A funding and has shown growth in the insurance sector. Additionally, they participated in funding rounds for SafetyWing, an insurance firm that secured $35 million in Series B funding, indicating their active role in the insurance industry. These transactions highlight Creandum's interest in innovative insurance solutions, making them a relevant player in the broader insurance landscape.

5. EQT Group

• Website: eqtgroup.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1994
• Headcount: 1001-5000
• Number of deals in 2024: 30
• LinkedIn: eqt-partners

EQT Group is a prominent investment firm founded in 1994, specializing in private equity, infrastructure, real estate, growth equity, and venture capital. Based in Stockholm, Sweden, EQT serves institutional investors by managing diverse investment portfolios across multiple sectors and geographies. Notably, EQT has made significant investments in the insurance sector, including a Series D investment in Bought By Many, a leading pet insurance provider, which highlights their engagement in the insurance market. Additionally, their investment in kfzteile24, an online retailer for automobile parts, reflects their interest in the automotive industry, further connecting them to the auto insurance space. Overall, EQT Group's diverse investment strategy and involvement in related sectors position them as a relevant player in the insurance landscape.

6. Heartcore Capital

• Website: heartcore.com
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2007
• Headcount: 11-50
• Number of deals in 2024: 17
• LinkedIn: heartcorecapital

Heartcore Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2007. The firm specializes in investing in early-stage technology companies and emphasizes building long-term relationships with entrepreneurs. Heartcore has been active in various sectors, including the insurance industry. Notably, they invested in Lovys, a France-based InsurTech that raised €17 million in Series A funding to enhance its international expansion and customer experience. Additionally, Heartcore participated in the seed funding of CarbonPool, a firm that offers carbon credit insurance and is working towards obtaining an insurance license in Switzerland. These transactions highlight Heartcore's engagement with the insurance sector, particularly in innovative and technology-driven contexts.

7. IDC Ventures

• Website: idcventures.com
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2019
• Headcount: 11-50
• Number of deals in 2024: 2
• LinkedIn: idcvc

IDC Ventures is a venture capital firm based in Copenhagen, Denmark, founded in 2019. The firm specializes in fintech and marketplace investments, partnering with family offices and professional investors to provide diversified investment opportunities. IDC Ventures focuses on supporting industry-defining founders and engages in active portfolio management and advisory services, leveraging its extensive network and expertise to drive growth in innovative companies. Notably, IDC Ventures has invested in Bipi, a Spanish car-as-a-service marketplace startup, which raised €10.5M in Series B financing. This investment highlights their interest in the automotive sector, although their primary focus remains on fintech. Other transactions include investments in Compareemcasa, SuperSim, and Curve, which primarily focus on financial technology rather than auto insurance directly.

8. EQT Ventures

• Website: eqtventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2015
• Headcount: 11-50
• Number of deals in 2024: 28
• LinkedIn: eqt-ventures

EQT Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2015. The firm specializes in investing in early-stage tech startups, providing not only financial support but also operational assistance to entrepreneurs. EQT Ventures connects startups with a global network of industry experts and resources to foster growth and innovation. Notably, EQT Ventures has invested in several insurtech companies, including Luko, a French startup that raised €50 million in Series B funding to enhance its product development and expand across Europe, and Cytora, a UK-based insurtech that secured £25 million in Series B funding to broaden its product suite and enter new markets, including the US. These transactions highlight EQT Ventures' active role in the insurance sector, particularly in innovative solutions that could impact auto insurance.

9. VNV Global AB

• Website: vnv.global
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 1996
• Headcount: 1-10
• Number of deals in 2024: 1
• LinkedIn: vostok-new-ventures-ltd

VNV Global AB is a venture capital firm based in Stockholm, Sweden, founded in 1996. The firm focuses on providing capital and expertise to innovative companies across various sectors, including Mobility and Digital Health. VNV Global aims to support mission-driven entrepreneurs in developing scalable and sustainable business models, emphasizing long-term profitability and the creation of strong market positions. Notably, VNV Global has participated in significant transactions such as BestDoctor, a Russian insurtech that raised $26 million, and Carla, a Stockholm-based startup that operates an electric vehicle marketplace and has raised a total of €32 million. These investments highlight VNV Global's engagement in sectors that intersect with auto insurance, particularly through mobility solutions and insurtech innovations.

10. Katapult

• Website: katapult.vc
• Type: Venture Capital
• Headquarters: Oslo, Oslo, Norway
• Founded year: 2017
• Headcount: 11-50
• Number of deals in 2024: 8
• LinkedIn: katapult-accelerator

Katapult is an impact investment firm based in Oslo, Norway, founded in 2017. They focus on tech startups that address global challenges, providing investment, accelerator programs, and mentorship to early-stage companies. Katapult has been involved in several transactions, including a notable investment in OKO, a Mali-based InsurTech that raised $500,000 in a seed extension round. OKO utilizes satellite imagery and weather forecasting technology to automate risk assessment and claims management, which is particularly relevant in the insurance context. This investment highlights Katapult's engagement in the insurance sector, showcasing their interest in innovative solutions that can improve insurance accessibility and efficiency. Other transactions include investments in companies like Betterfly and Figorr, although these are less directly related to auto insurance.

11. Luminar Ventures

• Website: luminarventures.com
• Type: Venture Capital
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2017
• Headcount: 1-10
• Number of deals in 2024: 7
• LinkedIn: luminar-ventures

Luminar Ventures is a venture capital firm based in Stockholm, Sweden, founded in 2017. They specialize in pre-seed and seed-stage investments, providing funding and strategic guidance to innovative startups across various industries, with a strong focus on technology. Notably, Luminar Ventures has participated in funding rounds for several insurtech companies, including Omocom, a Swedish startup that raised €3.7 million to enhance product development and expand into new verticals, and Insurello, which has raised a total of €9.8 million across multiple funding rounds for its international expansion. These transactions highlight Luminar's active role in the insurance technology space, particularly in supporting companies that aim to innovate within the auto insurance sector.

12. LähiTapiola

• Website: lahitapiola.fi
• Type: Corporate
• Headquarters: Espoo, Uusimaa, Finland
• Founded year: 1982
• Headcount: 1001-5000
• Number of deals in 2024: 1
• LinkedIn: l-hitapiola

LähiTapiola Keskinäinen Vakuutusyhtiö is a Finnish mutual insurance company founded in 1982, located in Espoo, Uusimaa, Finland. The company offers a diverse range of insurance products, including property, life, health, and notably, auto insurance. In 2023, LähiTapiola acquired a 70% majority stake in Suomen Vahinkovakuutus Oy, also known as POP Insurance, to enhance its digital services for customers. This acquisition aims to strengthen their capabilities in digital insurance sales and marketing, particularly in the auto insurance sector. Additionally, they have been involved in acquiring fund management company Seligson & Co, further diversifying their investment portfolio. Overall, LähiTapiola plays a significant role in the insurance market, including auto insurance, helping individuals and businesses manage risks effectively.

13. Inventure

• Website: inventure.vc
• Type: Venture Capital
• Headquarters: Helsinki, Uusimaa, Finland
• Founded year: 2005
• Headcount: 11-50
• Number of deals in 2024: 9
• LinkedIn: inventure

Inventure is a venture capital firm based in Helsinki, Uusimaa, Finland, founded in 2005. The firm focuses on backing ambitious Nordic and Baltic founders, providing venture capital investment and portfolio management services to early-stage tech startups. Inventure has been involved in several notable transactions in the InsurTech sector, including investments in Omocom, a Swedish InsurTech startup that raised €3.7 million in 2020 and $1,128,753 in 2019, and Insurello, a Stockholm-based insurtech that raised €17.4 million in 2021 and €7.1 million in 2020 for international expansion. These investments highlight Inventure's commitment to supporting innovative solutions in the insurance industry, making them a relevant player in the auto insurance investment landscape.

14. Schibsted

• Website: schibsted.com
• Type: Corporate
• Headquarters: Oslo, Oslo, Norway
• Founded year: 1839
• Headcount: 5001-10000
• Number of deals in 2024: 3
• LinkedIn: schibsted-asa

Schibsted Media Group is a corporate investor based in Oslo, Norway, with a history dating back to 1839. Originally a publishing company, Schibsted has transitioned into a digital marketplace leader, offering platforms for classified ads and second-hand goods. In recent years, Schibsted has expanded its investment portfolio to include significant stakes in the insurtech sector. Notably, Schibsted acquired a stake in Insurello, a Stockholm-based insurtech company, which raised substantial funding for its international expansion. This investment highlights Schibsted's commitment to the insurance technology space. Furthermore, Schibsted's acquisition of AutoVex, a Finnish used car auction marketplace, demonstrates its strategic interest in the automotive sector, which is closely linked to auto insurance. These transactions reflect Schibsted's broader strategy to empower users through digital services while also tapping into the growing insurtech market.

15. Volvo Group

• Website: volvogroup.com
• Type: Corporate
• Headquarters: Sweden
• Founded year: 1927
• Headcount: 10001+
• Number of deals in 2024: 4
• LinkedIn: volvo-group

Volvo Group is a prominent manufacturing company based in Sweden, founded in 1927, specializing in the production of trucks, buses, construction equipment, and marine and industrial engines. With over 10,000 employees, the company is committed to providing efficient and sustainable solutions for the transportation and construction sectors. In addition to its core manufacturing operations, Volvo Group has made strategic investments in automotive technology and cybersecurity, which are relevant to the auto insurance industry. Notably, Volvo Group participated in funding rounds for Upstream Security, a company focused on automotive cybersecurity, and Peloton Technology, which is developing advanced automation solutions for trucks. These investments reflect Volvo Group's commitment to innovation and sustainability, as well as its recognition of the importance of safety and risk management in the automotive sector.

16. Nordic Eye Venture & Growth Capital

• Website: nordiceye.com
• Type: Venture Capital
• Headquarters: Copenhagen, Denmark
• Founded year: 2016
• Headcount: 11-50
• LinkedIn: nordic-eye

Nordic Eye Venture & Growth Capital is a venture capital firm based in Copenhagen, Denmark, founded in 2016. The firm specializes in investing in growth companies within the technology and lifestyle sectors, providing capital and strategic support to startups to help them scale and achieve market fit. Nordic Eye focuses on high revenue potential and collaborates closely with its portfolio companies to drive growth and successful exits. Notably, they led a $2 million investment in CarBlip, a mobile app aimed at streamlining the car-buying experience, which positions them within the automotive sector. Other investments include AirHelp, a legal service for air passengers, and LuggageHero, a luggage-storage service, indicating a diverse portfolio but with limited direct ties to auto insurance.

17. Adelis Equity Partners

• Website: adelisequity.com
• Type: Private Equity
• Headquarters: Stockholm, Stockholm, Sweden
• Founded year: 2012
• Headcount: 11-50
• Number of deals in 2024: 3
• LinkedIn: adelis-equity-partners

Adelis Equity Partners is a private equity firm based in Stockholm, Sweden, founded in 2012. The firm specializes in growing businesses within the Nordic region, offering investment management and strategic consulting services across various sectors, including technology, healthcare, and business services. Notably, Adelis has made significant investments in the insurance sector, such as the acquisition of Säkra Falkenberg in 2020, which enhances their portfolio in the insurance domain. Additionally, their investment in Hedvig, which raised over $31 million in a Series B round in March 2023, further emphasizes their commitment to the insurance industry, including auto insurance. Through these transactions, Adelis demonstrates its capability to support and grow companies within the insurance landscape.

Auto Insurance Insights: Key Investors in the Nordics

Investor	Headquarter	Size	Founded	Deals 2024
Nordic Capital	Stockholm, Stockholm, Sweden	201-500	1989	10
Söderberg & Partners	Stockholm, Stockholm, Sweden	1001-5000	2004	4
Kinnevik	Stockholm, Stockholm, Sweden	11-50	1936	10
Creandum	Stockholm, Stockholm, Sweden	11-50	2003	17
EQT Group	Stockholm, Stockholm, Sweden	1001-5000	1994	30
Heartcore Capital	Copenhagen, Denmark	11-50	2007	17
IDC Ventures	Copenhagen, Denmark	11-50	2019	2
EQT Ventures	Stockholm, Stockholm, Sweden	11-50	2015	28
VNV Global AB	Stockholm, Stockholm, Sweden	1-10	1996	1
Katapult	Oslo, Oslo, Norway	11-50	2017	8
Luminar Ventures	Stockholm, Stockholm, Sweden	1-10	2017	7
LähiTapiola	Espoo, Uusimaa, Finland	1001-5000	1982	1
Inventure	Helsinki, Uusimaa, Finland	11-50	2005	9
Schibsted	Oslo, Oslo, Norway	5001-10000	1839	3
Volvo Group	Sweden	10001+	1927	4
Nordic Eye Venture & Growth Capital	Copenhagen, Denmark	11-50	2016	0
Adelis Equity Partners	Stockholm, Stockholm, Sweden	11-50	2012	3

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