Freedom Services Group has acquired Homelyfe for an undisclosed sum.

Under the terms of the deal, Homelyfe will be sold to Freedom, but will continue to be run on the Aventus operating system, which allows it to create policies and automatically quote and bind in under a minute from a minimal question set.

Homelyfe was founded in 2017 by entrepreneur Peter Goodman, built on a proprietary operating system Aventus which last week secured £2.6 million in venture capital investment.

Sam White, chief executive of Freedom Services Group and Pukka Insure, has been involved with the development of Homelyfe and Aventus since launch. A statement suggested that the acquisition demonstrates the continued close partnership between the two Insurtech entrepreneurs.

Aventus co-founder and chief executive Peter Goodman commented: “I started Homelyfe to reinvent the purchase of home insurance – by building our Aventus operating system we have been able to achieve our aim of making the purchase of insurance fair and straightforward for customers.

“It’s now time to expand the Aventus customer base, and the sale of Homelyfe to Freedom will allow us to focus on strengthening and expanding the Aventus offering.”

White added: “Homelyfe is a fantastic addition for our business, allowing us to move into the home insurance space using best of breed, not antiquated, technology.”

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