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InsurTech start-up Anorak raises €5.8m

By Alexandra Leonards

Online insurance broker Anorak has raised €5.8 million in funding.

The start-up, which specialises in life insurance, income protection, and critical illness cover, claims to be the world’s first fully automated life insurance advice platform.

The funding round was led by Outward VC. Triple Point Ventures and Kamet Ventures also participated.

The InsurTech said that the money will be spent on accelerating the expansion of its distribution and partners network.

The company will also continue to invest in its advice platform.

“Our mission is to help millions protect their financial future. We are passionate about advice, and we believe that everyone should have access to it. We can ensure that each person gets the protection that is right for them.” David Vanek, CEO and co-founder of Anorak said, “The last 12 months has left many of us in a state of financial uncertainty, and many are actively searching for fair and transparent advice on insurance.

Vanek added: "Our platform provides exactly that and we are looking forward to continuing to work with our partners to bring this education to the masses.”

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