Summit secures $3.5m investment to revolutionise commercial brokerage sector

Summit has recently secured $3.5 million in seed funding, marking a significant step towards its long-term objective of building the commercial insurance brokerage of the future.

This investment was led by IA Capital Group, with additional funding from Harvest Ventures.

The infusion of $3.5 million represents a crucial milestone in Summit’s mission to modernise the Canadian insurance sector.

Recognising that broker distribution remains the cornerstone of commercial insurance, Summit is reshaping the conventional approach to this model.

In an industry grappling with talent shortages and excessive paperwork, both brokers and customers suffer. Skilled professionals spend too much time on administrative tasks instead of helping customers.

In response, Summit is committed to crafting a brighter future for commercial brokerage, one that combines human expertise with the latest technology.

Ravi Shah, Vice President at IA Capital, comments, “We are thrilled to be partnering with Josh, Davis and the entire Summit team in the next stage of their growth serving the commercial insurance needs of businesses in Canada.”

Shah adds, “We’ve been incredibly impressed by the traction to-date in one of Canada’s fastest growing retail brokerages.”

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