Fineqia International Inc. announced an increase of more than 20% in its equity stake in digital insurance start-up, Black Insurance.
The company's subsidiary Fineqia Investments Ltd. is responsible for holding the investment in Black. Fineqia's investment sum represents less than 9% of its market capitalization.
This is Black's second round of financing. Fineqia had participated in the prior round as well. The investment is a part of the company's strategy to strengthen its existing portfolio of blockchain, fintech and cryptocurrency technology companies.