Morgan Stanley Expansion Capital Invests $40M Growth Equity in Cover Whale
July 28, 2025
Morgan Stanley Expansion Capital provided $40 million in growth equity to Cover Whale Insurance Solutions to accelerate investments in its technology platform, analytics, and product expansion. The financing converts Morgan Stanley's prior structured debt into an equity partnership as Cover Whale scales its telematics-driven commercial auto insurance MGA, which reported $133 million in gross written premiums year-to-date and is on track for $277 million for the full year.
- Targets
- Cover Whale Insurance Solutions, Inc.
- Industry
- Insurance
- Location
- New York, United States
- Transaction Type
- Growth capital
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