Next is getting ready for the entrance to Wall Street – Global

Digital Insurance Company Next, an insurance company for small and self-employed businesses in the United States, has acquired the American insurance company AP Intego. This move will double its revenues, after announcing that in 2020 its revenue turnover reached more than $ 200 million. The acquisition of AP Intego actually adds a turnover of $ 200 million to it and will bounce the turnover to over $ 400 million after the acquisition.

The acquired company AP Intego is engaged in digital insurance, similar to Next. This is Next’s second acquisition in just about three months – after the acquisition of startup Juniper Labs, which specializes in using machine learning and data for underwriting and insurance purposes – this is a small acquisition compared to the current acquisition, as Juniper Labs is a startup only established a year earlier.

The acquisition of AP Intego from France Next Next has about 75,000 new customers and brings the company to more than 200,000 paying customers. The acquisition significantly increases the number of employees in the company, and will add about 160 additional employees to Next, the acquisition brings the company to a total of more than 550 employees worldwide.

The latest acquisition may be on the verge of being recruited on Wall Street. The company is considering an IPO on Wall Street or an entry through Spack when the expected value is $ 3-4 billion. About six months ago, the company raised about $ 2 billion.

In addition to Next, it traded on Wall Street Lemonade which recently reported disappointing results and is still trading close to $ 10 billion. In addition, Hippo in the field of digital insurance is also preparing Lace through Spock at a value of $ 4 billion.