Spott
Insurance for eCommerce Businesses
Company Overview
Snapshot
Founded in January 2021 by Guy Salame, Amit Batzir, and Roma Bronstein, Spott operates with 1–10 employees. The company raised $8.3M across one funding round from two investors, with Viola Ventures as a lead investor. Spott was acquired by Payoneer Global in August 2023.
Business overview
Spott is a data-powered insurance platform designed to protect eCommerce businesses from financial losses. The company develops dynamic insurance products, including liability insurance, suspension coverage, and stockout protection, to mitigate risks such as lawsuits and sales disruptions. Spott serves online retailers and professionals in the gig economy, operating within the Fintech & Insurtech sector, specifically focusing on Insurtech, and utilizes web-based platforms and interfaces.
Strategic signal
Spott's acquisition by Payoneer in August 2023 signals a strategic move by Payoneer to enhance its data capabilities and expand its offerings to eCommerce businesses. This acquisition validates Spott's innovative approach to digital insurance and indicates a growing trend of financial service providers integrating specialized insurtech solutions to create more resilient ecosystems for online merchants.
Log in to access full profile ›Company Intelligence Q&A
- What is Spott's primary focus?
- Spott focuses on providing data-powered insurance solutions specifically tailored for eCommerce businesses to protect them against unexpected financial losses.
- When was Spott founded and by whom?
- Spott was founded in January 2021 by Guy Salame, Amit Batzir, and Roma Bronstein.
- What types of insurance products does Spott offer?
- Spott offers dynamic insurance products such as liability insurance, suspension coverage, and stockout protection to fortify eCommerce businesses.
- What was a significant corporate milestone for Spott?
- In August 2023, Spott was acquired by Payoneer Global, marking a key exit for the company.
- Which investors participated in Spott's funding round?
- Spott secured $8.3 million in funding from investors including Viola Ventures and Team8.