Metromile, Inc. completed a business combination with INSU Acquisition Corp. II, transitioning to a public company and enhancing its position in the digital auto insurance market.
Target Company Overview
Metromile, Inc. is a prominent digital insurance platform that specializes in pay-per-mile auto insurance. The company is dedicated to providing innovative insurance solutions that are fair and tailored to individual customer needs. With a strong technological backbone, Metromile aims to revolutionize the insurance industry by offering real-time, personalized digital insurance products to its clientele.
As part of a significant milestone, Metromile has just completed its business combination with INSU Acquisition Corp. II. The merger, which was approved by INSU II's shareholders, positions Metromile to expand its offerings and enhance its growth potential within the competitive insurance market.
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Industry Overview in the United States
The insurance industry in the United States is one of the largest and most comprehensive globally, characterized by a wide array of providers and products. Digital insurance
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INSU Acquisition Corp. II
invested in
Metromile, Inc.
in 2021
in a Public-to-Private (P2P) deal
Disclosed details
Transaction Size: $400M