Promutuel Insurance invests in Portage Ventures III fund

Promutuel Insurance is investing in Portage Ventures III, the third venture capital fund of Portage Ventures, intended to propel startups in the fields of financial technology, insurance and wealth management.

“As we celebrate 170 years of existence, this investment will allow us to identify and invest in new technologies that can accelerate the development of our product and service offering to meet the ever-changing needs of our insured members. We are excited to participate in this fund, which will allow Promutuel Insurance to have direct access to a solid pipeline of innovations in our field, while allowing us to exercise a privileged view of the business opportunities that will result. This strategic investment is perfectly in line with the profitable growth strategy we have adopted.” – Promutuel Insurance CEO Geneviève Fortier.

“We look forward to partnering with Promutuel Insurance, well-reputed in the insurance sector, to accelerate the scaling of startups with the potential to disrupt the finance and insurance sector in the coming years. We appreciate their trust in us as stewards of their capital.” – Adam Felesky, Co-founder and CEO of Portage Ventures.