Cloud-Based Insurtech Startup Insly Raises €2.2M ($2.7M) in Funding
Summary
The London-based company said its goal is to make insurance easy to understand, manage, and buy for both service providers and end users. The raised funds will go towards developing the platform further, scaling the business and expanding into new markets, the company added. We will strengthen our position in the MGA and P/C insurance companies segment as well as continue with the geographical expansion.” “Although our main focus in terms of the MGA business remains in the UK, we now serve MGA-type customers elsewhere as well, with particularly good up-pick in Canada,” commented Insly’s CCO Ott Kell. “We have been keeping an eye on the insurtech landscape for some time and it has been a challenge to find a company that has a long-term vision and an actual, proven value proposition,” says Kjartan Rist, managing partner of Concentric. Headquartered in Gdansk, Poland, Black Pearls VC is an early stage venture capital firm, focused on supporting the best entrepreneurs in Poland and the Baltic Sea Region, who develop deep-tech and enterprise software businesses.