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New York City-based insurtech Arbol raises $7M in fundraising round

Arbol Inc. has raised approximately $7 million in an oversubscribed series A fundraising round.

Existing investors Finch Finance LLC and Space Capital LP participated in the funding round, as well as new investor Mubadala Capital.

New York City-based Arbol is an insurtech platform for parametric products that cover external risks like unexpected weather.

The company intends to use the funds to invest in and grow the footprint of its platform.