Arbol Inc. announced today that it has closed its Series A fundraising round with commitments totaling nearly $7 million. Arbol's Series A round was oversubscribed and completed at a significant increase in valuation from its initial seed round. All of the company's original seed investors, including Finch Finance LLC and Space Capital, recommitted for the Series A round, in addition to one new investor, Mubadala Capital-Ventures.

Arbol is an InsurTech platform for parametric products that pay quickly and fairly covering external risks such as unexpected weather. Arbol uses Big Data, machine learning, and smart contracts to bring transparency and efficiency to the weather risk market.