Minnesota InsureTech Startup Upsie Raises Another $5M

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Via TechCrunch

“Warranties for purchased products is a $40 billion annual market. But in in their current form, they are considered by some to be one of the bigger scams in the world of retail because they cost so much and often return too little.

Now there is an alternative emerging. A startup out of Minneapolis, Minnesota, called Upsie has decided to wage war on the old warranty, with more reasonable pricing (typically 70 percent lower than what the retailer offers) and a much more modern approach to selling and managing the warranty.”

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[UPDATED] The Top 25 VC Backed Tech Ventures In Minnesota

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Updated as of 5/21/2019: An examination of Minnesota based technology companies based on the gross amount of investment capital received since inception.  Excluding Private Equity (majority buyout) deals & debt financing, here are Minnesota’s 25 most funded tech firms based on public disclosure and years of archived reporting:

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Meda Announces 2nd Annual Million Dollar Challenge for Minority Entrepreneurs

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Via News Release

“MINNEAPOLIS, May 16, 2019 /PRNewswire/ — Meda (Metropolitan Economic Development Association) has opened up applications for its second year of the Million Dollar Challenge for Minority Entrepreneurs. The Million Dollar Challenge is the largest minority entrepreneurial competition in the country, awarding $1 million in funding to minority businesses from across the nation.”

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Minneapolis Fintech Venture ClickSWITCH Secures $13m Series B

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Via News Release

“MINNEAPOLIS–(BUSINESS WIRE)–ClickSWITCH, a turn-key solution that simplifies and automates the switch of direct deposits and recurring payments for financial institutions’ new and existing account holders, announced today that it has raised $13 million in Series B financing. The funding was led by Commerce Ventures and Point72 Ventures. This round of financing will further accelerate ClickSWITCH’s product roadmap, expand executive leadership, increase headcount within software development and sales teams, amongst other marketing plans for growth.”

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