INSHUR closes $7M in Series A funding and a $2M credit facility
Following a record year of growth for the #insurtech business, INSHUR has today confirmed it has closed a Series A investment round, securing $7M in equity funding and a further $2M credit facility. The investment, led by Munich Re Ventures with participation from MTech Capital, will support expansion into new territories and accelerate reach into new insurance verticals.
INSHUR is a 100% digital provider of commercial auto insurance, currently focused in the rideshare vertical. The product has been live in New York for 11 months and recently launched in the UK.
Using its mobile technology platform, proprietary data, and analytics, INSHUR helps professional drivers buy insurance coverage quickly and at a competitive price. In a market where the traditional broker model has remained unchanged, INSHUR delivers a mobile-first platform, allowing drivers to manage their entire insurance lifecycle from their mobile phone.
Speaking about INSHUR’s growth story, CEO Dan Bratshpis, said: “We are excited to be working with strategic investment partners who understand the complexity of the Insurtech landscape and the opportunity that lays before us. I am proud of the bootstrapped growth we have achieved in our two territories to date, it’s a testament to our amazing team. Our first institutional round of funding will allow us to expand further into new territories and insurance verticals within the US and EU.”
Andrew Rear, CEO of Digital Partners, said: “INSHUR’s growth in less than a year shows how they are transforming the experience commercial drivers have with insurance. We are proud to have been with them since the beginning of their journey”.
Brian McLoughlin, a Co-Founder and Partner of MTech Capital who is joining INSHUR’s board of directors, said “Dan and David have executed brilliantly. Rideshare drivers love the INSHUR mobile experience. INSHUR is the first investment in our new fund, giving it special significance for us. We look forward to working with the INSHUR team as they execute their growth strategy”
INSHUR is the only mobile-first provider of commercial auto insurance for drivers.
The mobile app allows professional drivers to quote, purchase and service their insurance policies at their convenience. The FREE app is available for Android and iOS devices. Founded in October 2016, the teams are based in NYC and Brighton (UK). INSHUR provides customers with the ability to get a quote and buy cover in minutes and not days. INSHUR means no more calling around brokers, waiting for a quote, finding parking and coming back with missing paperwork. The product is live in New York and the UK.
About MTech Capital
MTech Capital is a venture capital firm focused on InsurTech. With offices in Santa Monica and London, we seek technology-enabled investment opportunities which we believe can transform one or more elements of the insurance industry value-chain. Our limited partners are primarily insurance companies who help us deliver additional value to InsurTech entrepreneurs.
Note for the editorial staff, for further questions please contact
INSHUR, VP Marketing, Paul Doran
Tel: 07768 373 100
Santa Monica, CA:
About Business Wire
(c) 2018 Business Wire, Inc., All rights reserved.
Business Wire, a Berkshire Hathaway company, is the global leader in multiplatform press release distribution.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
RISO Unveils VALEZUS, a New Brand for the Production-printing Market19.8.2019 06:00:00 CEST | Press release
RISO KAGAKU CORPORATION (President & CEO: Akira Hayama; hereinafter “RISO”) announced today the launch of VALEZUS, a new brand of high-speed ink-jet printers for the production-printing market. RISO will start with successive rollouts worldwide of the new brand’s first product, the VALEZUS T2100, a high-speed, 320-page-per-minute (320-ppm) cut-sheet printer. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190818005001/en/ 1 The new brand, VALEZUS One of RISO’s commanding strengths is the development of inks optimized for high-speed paper feeding and high-speed printing. This expertise enables RISO to deliver unique printing solutions serving the demand for high-volume printing. With technologies developed and cultivated in this field, RISO launches the VALEZUS, a fresh brand targeting the production-printing market. 2 The all-new VALEZUS T2100 VALEZUS T2100 The first product of the new brand, the VALEZUS T2100 is a high-speed
Velodyne Files Patent Infringement Complaint with ITC Against Hesai and RoboSense16.8.2019 12:00:00 CEST | Press release
Velodyne Lidar, Inc. filed a patent infringement complaint with the U.S. International Trade Commission (ITC) against Hesai Photonics Technology Co., Ltd. and Suteng Innovation Technology Co., Ltd. (a.k.a. RoboSense) for violations of section 337 of the Tariff Act of 1930 which makes unfair methods of competition and importation of certain products into the United States unlawful. Earlier this week, Velodyne also filed patent infringement complaints against Hesai and RoboSense in the U.S. District Court for the Northern District of California. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190816005041/en/ Velodyne Lidar’s Alpha Puck™, Ultra Puck™ and Puck™ surround view sensors (left to right). (Photo: Business Wire) Velodyne is asking the ITC to investigate these lidar manufacturers for unlawfully importing and selling lidar sensors that infringe Velodyne’s patented lidar technology (U.S. Patent 7,969,558). Velodyne reques
Merz Announces Key Governance Changes16.8.2019 09:26:00 CEST | Press release
Merz, a global leader in medical aesthetics and specialty neurology, announced today that Philip Burchard will be appointed Chairman of the company’s Shareholders Council. He will assume this role in addition to his current position as Chief Executive Officer of the Merz Healthcare Group. In his new position, Philip Burchard will succeed Andreas Krebs, who has decided to step down from his current roles as Chairman of the Shareholders Council and Supervisory Board of Merz in order to dedicate more time to his personal entrepreneurial and philanthropic activities. In addition, Dr. Christian Holzherr will be the new Chairman of the Merz Supervisory Board. All changes will be effective as of October 31, 2019. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190816005106/en/ Philip Burchard, CEO of Merz (Photo: Business Wire) Philip Burchard joined Merz as CEO in July 2012. Under his leadership, Merz has focused its strategy on ae
FINEOS lists on the Australian Securities Exchange16.8.2019 07:22:00 CEST | Press release
FINEOS Corporation Holdings plc (ASX:FCL), a leading provider of group and individual core systems for life, accident and health insurance, today announced the commencement of trading on the Australian Securities Exchange (ASX) via an initial public offering (IPO). The total number of securities (CHESS Depository Interests or “CDIs”) on offer was 84.4 million at a price of A$2.50 per CDI. Total gross proceeds from the offer amounted to A$211 million. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190816005058/en/ FINEOS lists on the Australian Securities Exchange (Photo: Business Wire) FINEOS intends to use the net proceeds from the IPO to invest further in R&D to grow the FINEOS product footprint and develop new business lines, to invest in additional sales, marketing and client account management capabilities and to pay down existing debt and shareholders selling down. Key areas of growth strategy for FINEOS include: • Inc
European Medicines Agency Validates Marketing Application for Filgotinib for the Treatment of Rheumatoid Arthritis15.8.2019 20:01:00 CEST | Press release
Gilead Sciences, Inc. (NASDAQ: GILD) and Galapagos NV (Euronext & NASDAQ: GLPG) today announced that the Marketing Authorization Application (MAA) for filgotinib, an investigational, oral, selective JAK1 inhibitor, for the treatment of adults with rheumatoid arthritis (RA) has been validated and is now under evaluation by the European Medicines Agency (EMA). This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20190815005605/en/ “We are excited about the validation of this application which is an important milestone in our ongoing work to improve the lives of people living with rheumatoid arthritis and other inflammatory conditions,” said John Sundy, MD, PhD, Senior Vice President, Inflammation and Respiratory Diseases, Gilead Sciences. The MAA for filgotinib is supported by 24-week data from the Phase 3 FINCH clinical trials in which once-daily treatment with filgotinib achieved improvements in clinical signs and symptoms, achievem
Celsius Network Partners With Bitcoin.com15.8.2019 14:55:00 CEST | Press release
Celsius Network, the industry-leading cryptocurrency platform, has announced a new partnership with Bitcoin.com, the leading resource for Bitcoin trading, news, and updates. Users of Celsius services are now able to purchase BCH, BTC, ETH, and other mutually supported cryptocurrencies through the Celsius app using Bitcoin.com’s advanced crypto trading platform providing low fees, enhanced accessibility to cryptocurrency, and valuable crypto services. With the shared mission of making financial services fair, rewarding, and transparent, Celsius and Bitcoin.com are well-known in the space for offering inclusive services designed to support the needs and interests of their robust communities. Celsius members can earn interest income of up to 10.53% APR on crypto assets and use their coins as collateral to get dollar loans at rates as low as 4.95% without fees or penalties, no minimums or caps, and no lockups. Bitcoin.com makes it easy to buy dozens of crypto assets instantly and without f