UK-based insurtech agency Superscript has raised £45m in a Collection B funding spherical led by current investor BHL UK.
New investor The Hartford and the prevailing traders, together with Concentric and Base Capital additionally joined the spherical.
Superscript plans to make use of the proceeds to boost its underwriting and broking capabilities utilizing machine studying and diversify its insurance coverage services and products for worldwide distribution.
The funds may even be used to construct on the agency’s current embedded partnership capabilities.
Established in 2015, the agency provides insurance coverage options to small and medium-sized companies and ‘excessive development’ expertise companies.
Superscript CEO and co-founder Cameron Shearer mentioned: “Within the context of a difficult macroeconomic atmosphere and shift in world investor appetites, this funding spherical represents an enormous vote of confidence in what we’re constructing at Superscript.
“The flexibleness, customisation and affordability we provide places us in a novel place to satisfy the insurance coverage necessities of small companies throughout turbulent instances, as they navigate financial challenges this 12 months. Our traders’ worldwide presence will assist help us with development sooner or later, as we proceed our mission to be the worldwide chief in SME insurance coverage.”
BHL UK CEO Ian Leech mentioned: “Superscript separates itself from different insurtechs by way of its distinctive distribution and underwriting capabilities, powered by proprietary machine-learning expertise.
“We’re very excited to be furthering our funding and look ahead to supporting additional product developments and worldwide development.”
In June this 12 months, the insurtech introduced its growth in Europe by opening an workplace in Rotterdam, the Netherlands.
In early 2020, the agency raised $10.4m in its Collection A spherical from BHL and different traders together with Nire Capital, Concentric, Beazley and Seedcamp.
