Floodbase Announces Ecosystem Integrity Fund as new Investment Partner, to Accelerate Growth as the Leading Platform for Uncovered Flood Risk
Summary
Hurricane Helene was the single most devastating natural catastrophe event in 2024, estimated to have caused $75 billion in economic loss, mainly due to flooding. "Flood insurance has typically been limited to direct property damage, which only represents a fraction of the overall economic loss" said Bessie Schwarz, Co-founder and CEO of Floodbase. Not only does this remove uncertainties around whats covered, the fast and flexible liquidity is a game changer for those managing the aftermath".Since its series A in 2023, Floodbase has operated across 40+ countries and enabled more than 9,000 flood insurance policies, becoming a preferred partner for leading re/insurers including Swiss Re Corporate Solutions, Liberty Mutual Re, and AXA Climate. EIF takes a systems-based approach to sustainability investment, studying both the drivers for change as well as the constraints to innovation in market niches that are ripe for development. The fund is focused on scalable, vertically-integrated companies that offer superior margins, outsized financial wins, and supply chain risk mitigation.