Trellis announces investment from Amex Ventures
Trellis announced an investment from Amex Ventures, bringing its total funding to $17 million.
Launched in 2020, Trellis helps partners integrate insurance as part of their suite of financial offerings. We covered the company’s solution, which requires shoppers to connect their insurance accounts, last year.
Trellis now works with four of the five top digital-only banks and seven of the Top 50 mobile finance apps, including Truebill and Albert. The company has also seen “significant user growth” with 4x the number of monthly users compared to a year ago. In total, more than 9 million users have visited Savvy, approximately 1 million user insurance accounts have been connected, and users have saved an estimated $60 million.
“We’re excited to back Trellis in their mission to simplify the insurance buying process and help consumers make important financial decisions. Trellis’ strong user growth momentum and partnership traction demonstrates that their value proposition is resonating.” – Margaret Lim, managing director, Amex Ventures.
“As anyone who drives a car knows, buying insurance can be a complex process that’s often disconnected from the rest of consumers’ financial lives. As a result, people often overpay and choose coverage that doesn’t meet their needs. At Trellis, we’re on a mission to put consumers in the driver’s seat of this important financial decision. Simultaneously, we’re helping our partners maximize value for their users by offering a more engaging, holistic experience–and creating a powerful, cost-effective alternative distribution channel for insurance carriers. Our significant user growth and successful partnerships with financial institutions, fintechs, and insurers demonstrate the acute need for an end-to-end, fully whitelabel solution. We’re excited to have Amex Ventures onboard supporting our mission.” – Daniel Demetri, Trellis Founder and CEO.