Swedish insurtech player Insurely has closed in a €19 million funding. The Series A round was led by New York-based global private equity and venture capital Insight Partners with participation from new investors, including Alfvén & Didrikson and existing partners such as Luminar Ventures, Philian, and Neptunia Invest. The company will use the funds to scale the business into new markets in Europe.
Founded in 2018 by Martin Einemo, Johan Forsman, Eric Sevelius, and Lotta Rauséus, the company is on a mission to digitise the insurance market with its easy-to-use solutions for open insurance. The platform makes it possible for insurers and financial players to access real-time data from the insurance market.
Martin Einemo, co-founder and CEO, Insurely said: “With the new funding, we plan to accelerate our expansion to strategically selected markets with the U.K. and France being among the first.”
“The open insurance platform enables insurance carriers, banks, and insurtechs to integrate to a single point of access for all insurance data. There is huge potential in this vision,” said Teddie Wardi, managing director at Insight Partners.
Swedish players such as Avanza, ICA Försäkring, Lassie and Hedvig are already using Insurely as of now.