CatX

01 / WHAT IT BUILT

What the company did

CatX is a London-based insurtech startup founded in 2023 by University of Oxford graduates Benedict Altier and Lucas Schneider. Accepted into Y Combinator and named one of TechCrunch's favorites from its demo day cohort, it built a digital marketplace that bridges the gap between supply and demand in the reinsurance industry: connecting (re)insurers with alternative capital providers, offering advanced risk models and portfolio exposure management tools, and operating a regulated digital exchange for natural catastrophe, property and specialty risks. Its Catamaran platform provides AI-powered risk intelligence and workflow tools, connecting market participants with capital from more than 50 funds managing over a trillion dollars of assets. In September 2025 CatX merged with fellow Bermuda-based risk software company Cactus, creating what the pair called Bermuda's largest insurance software company, and launched the AI-driven Cactus Risk Studio platform.

03 / EVENT HISTORY

Events in the structured record

1. 2023
   Founded

   Founded in London by Benedict Altier and Lucas Schneider; accepted into Y Combinator and named a TechCrunch favorite at its demo day.

2. 2023
   Seed funding

   Raised £2.15 million (~$2.7 million) in seed funding led by Silicon Valley venture capital firms and angel investors to bring more alternative capital into the insurance sector.

3. 2025
   Cactus merger

   Merged with Bermuda-based risk software company Cactus and launched Cactus Risk Studio, an AI-driven platform for analyzing and transacting risk; the pair claimed to be Bermuda's largest insurance software company.