TOKYO/LONDON -- SoftBank Group has invested in a British insurtech startup that helps nonlife insurers pay claims faster and with less manpower, Nikkei has learned, as the Japanese conglomerate emerges from a defensive crouch in which it waited out worsening market conditions by largely halting new investments.
The SoftBank Vision Fund (SVF), a group subsidiary that invests in artificial intelligence-related companies, was the main underwriter as Tractable raised $65 million. Several existing shareholders including U.S. venture capital fund Insight Partners also came aboard as underwriters.
