Cyber Insurtech Coinnect has announced its inclusion in the portfolio of Plug and Play, “the world’s largest startup accelerator.”
According to Coinnect, Plug and Play, known for its investments in more than 30 unicorns and notable companies such as PayPal, Google, Dropbox, and Trulioo, has invested in its equity.
“Plug and Play is a globally leading corporate innovation platform connecting the most promising and innovative startups with corporations, venture capital firms, universities, and government agencies,” the Insurtech explained.
Headquartered in Silicon Valley, Plug and Play also operates acceleration programs globally and has created an in-house venture capital structure to promote innovation across various sectors.
Coinnect added that this strategic move offers it not just an endorsement of its cutting-edge Cyber Insurtech solutions, but also strengthens its unique positioning in the Cyber Insurtech sector.
As an investor, Coinnect said that Plug and Play will offer it “invaluable support, enhanced visibility, and deep insights” into international markets—key elements for the company’s further growth in the rapidly expanding Cyber Insurtech sector.
Coinnect will also gain resources, mentorship, and direct access to Plug and Play’s international network, which extends across more than 50 countries and includes over 600 corporate partners, comprising leading global insurance companies, reinsurers, and brokers.
Massimiliano Rijllo, Co-founder and CEO of Coinnect, “I am thrilled about Plug and Play becoming a strategic investor in Coinnect. Their experience and expertise will undoubtedly play a significant role in strengthening and accelerating our further growth in the Cyber Insurtech sector.
“Their proven track record in successful companies and deep understanding of the Insurtech sector will be invaluable to us on our development journey.
“Additionally, Plug and Play’s extensive global presence, with offices in more than 50 countries, provides us with a tremendous platform to accelerate our international expansion and establish valuable relationships worldwide.”
