Propeller, a Philadelphia-based insurance tech startup, has raised a $6.4 million seed round after experiencing 300% growth in the past year and eyeing the same number in 2023.
The company was founded by two insurance industry veterans who saw an opportunity to corner a portion of the market that can feel "archaic" and has largely been ignored by fintech startups. Its focus is on the surety business, which is a $7 billion industry, said Aaron Steffy, who launched the firm with his cousin Chris…
