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
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Transforming document management into a strategic advantage for financial institutions
In this exclusive fireside chat, John Rockliffe, Pre-Sales Manager at d.velop, discusses the findings of Adapting to a Digital-Native World: Financial Services Document Management Beyond 2025 and explores how FSIs can turn document workflows into a competitive advantage.
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.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories