Cambridge Mobile acquires Amodo, Lemonade in France: Insurtech roundup

Cambridge Mobile Telematics, a provider of usage-based telematics and insurance services, has acquired Amodo, a similar company based in Europe. The combined company, which will operate under the CMT name and brand, currently serves about 100 programs in 25 countries. Marijan Mumdziev, CEO of Amodo, became CMT’s managing director for Europe, but there were no other personnel changes, according to a CMT spokesperson. CMT also opens an office in Zagreb, Croatia. The deal closed in February 2023.

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