London-based InsurTech Superscript has completed a Series B funding round worth £45 million.
Superscript said the funding will be used to build on its underwriting and broking capabilities, as well as increase the range of insurance products and services.
The company added that its future plans include building on existing embedded partnership capabilities.
The investment follows its £8.5 million Series A funding round in February 2020.
Superscript said it that since the first round of funding it has worked with Amazon Business and Virgin Money Bank and was the first UK InsurTech to be awarded a Lloyd’s of London broker licence.
The latest funding round was led by existing investor BHL UK, which owns Comparethemarket, with additional investment from Concentric and The Hartford.
The company’s chief executive Cameron Shearer said that amidst a challenging macroeconomic environment and shift in global investor appetites, the funding round represents a “huge vote of confidence” in the business.
“The flexibility, customisation and affordability we offer puts us in a unique position to meet the insurance requirements of small businesses during turbulent times, as they navigate economic challenges this year,” said Shearer. “Our investors’ international presence will help support us with growth in the future, as we continue our mission to be the global leader in SME insurance.”
Latest News
-
Financial Data Exchange becomes first US Open Banking standard setting body
-
BlackRock quits climate alliance as Wall Street retreats from environmental stance
-
Nomura names new international wealth management operations chief in Singapore
-
Latin American payments platform dLocal wins UK licence
-
British financial sector optimism falls at fastest rate since 2022 amid Budget concerns
-
TransUnion to buy Monevo
Sanctions evasion in an era of conflict: Optimising KYC and monitoring to tackle crime
The ongoing war in Ukraine and resulting sanctions on Russia, and the continuing geopolitical tensions have resulted in an unprecedented increase in parties added to sanctions lists.
Achieving operational resilience in the financial sector: Navigating DORA with confidence
Operational resilience has become crucial for financial institutions navigating today's digital landscape riddled with cyber risks and challenges. The EU's Digital Operational Resilience Act (DORA) provides a harmonised framework to address these complexities, but there are key factors that financial institutions must ensure they consider.
Legacy isn’t the enemy: what FSIs can do to keep their systems up and running
In this webinar we will examine some of the steps FSIs have already taken to rigorously monitor and test systems – both manually and with AI-powered automation – while satisfying the concerns of regulators and customers.
Optimising digital banking: Unifying communications for seamless CX
In the digital age, financial institutions risk falling behind their rivals if they fail to unite fragmented communications ecosystems to deliver seamless, personalised customer experiences.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
This FStech webinar sponsored by Precisely explores vital strategies to optimise cross-channel messaging through omnichannel orchestration and real-time customer data access.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories