Tillit to raise capital from Schibsted and via Folkeinvest.

Tillit, an Oslo, Norway-based developed of a dynamic-priced insurance tech product, completed a capital funding raise of NOK 14.2 million ($1.6M).

The money was raised from Schibsted Venture which contributed with NOK 7 million and the rest via an equity crowdfunding campaign over at Folkeinvest.

Tillit, founded in 2017 by CEO Erik Skaar, works for the development of a digital tool based on the idea of providing dynamically priced insurance premiums, that change slightly each month based on the actual claims ratio of the insurance product. Tillit is an insurer provider for electronic valuables, following a “limited profit model” controlled by dynamic premiums and rewarding claim-free customers.

Tillit Forsikring previously raised $1.4 million at the start of 2021.