Insly funding: Raises €1.1m in Bridge
Insly, a London, UK-based low/no-code software platform for insurers, insurance brokers and Managing General Agents (MGAs), raised €1.1m in bridge funding.
Half of this figure was committed by existing investors, Concentric and Uniqa Ventures, and half by an angel syndicate led by Fund Fellow Founders. The round brings Insly’s total raised to €5.8m.
The company intends to user the funds to accelerate growth across operations in Poland, London, and Tallinn, enable further product development, and expand sales and marketing initiatives to acquire new customers.
Founded by Risto Rossar, Insly is an insurtech startup that enables insurers, MGAs, brokers, and underwriters to digitize and automate their mid and back-office operations, including distribution, policy administration, underwriting, claims, and reinsurance.
Initially an SaaS solution for brokers, the company has since diversified into tools for MGAs and insurance companies, while also developing a no-code product which is customisable and configurable, reducing the need for maintenance and costly development talent.
Additional services like accounting, reporting, and claims management tools further enhance the platform’s capabilities for streamlining and optimizing insurance selling and admin processes.
In the last eight years, Insly has grown to a team of 100, with offices in Tallinn (core development unit), London (HQ), Vilnius, and Warsaw. It serves over 1,000 brokers, MGAs, and insurers, with over 15,000 users, and over €0.5bn gross premiums transacted on the platform. Its customers span 52 countries around the globe, and global revenues have grown by over 30% in the last year.
Insly Raises €1.1m in Bridge Funding. Congratulations to the entire team. I wish you great success in this endeavour.Shishir Gupta, Founder and CEO, StartupLanes
Insly founder Risto Rossar established the first digital insurance broker in world in 2000 and after selling the broker business in 2014 has been focusing together with Insly team of 90 employees on helping other insurance businesses to surf digital waves.
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When was insly founded?
Insly was launched in 2000 in London, United Kingdom.
Who is the Founder of insly?
Risto Rossar – Founder and CEO – Insly | LinkedIn.
Is insly Hiring?
Insly is hiring for Senior Quality Assurance Engineer, you can check out their linkedin page as well
What is the Team Size of Insly?
As per the popular social media site LinkedIn, Insly has 54 employees.
Where is the Head Office of Insly?
Insly is located in London, England, United Kingdom . Who invested in Insly ? Insly has 10 investors including UNIQA Ventures and Concentric .
How much is the revenue of Insly?
Insly is a rising star in the global effort to bring the traditionally bureaucratic, paper-based business of insurance trading into the modern day. The London-based company is serving 180 customers in 40 countries, with close to 2 million euros of revenue in 2017
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