British insurance start-up Nimbla has secured £5.1 million investment from Silicon Valley venture fund Fin VC, with participation from Barclays Bank.
The funding comes as the digital insurance platform seeks to scale its operations with increased demand from embedded credit risk solutions through its API with banks and alternative lending platforms.
“We have been growing steadily over the past few years, ramping up our technology and team to better understand businesses, the nature of B2B debt and to make faster decisions to serve our growing customer base,” said Flemming Bengtsen, chief executive, Nimbla. “2020 was a seminal year for Nimbla, at a time of global crisis, we were there for businesses enabling them to trade with a peace of mind and giving them confidence to carry on.
“This funding round will enable us to expand our platform, grow the team as we enable a confident and trusted trading environment for businesses across the UK and beyond”.
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