UK insurtech company Wrisk has raised £4.6 million in series A funding.
QBN Capital led the round, which also featured Guinness Asset Management and Cell Rising Capital. Wrisk plans to use the funding to grow its team and further scale its platform to support client demand.
The insurtech partners with leading insurance companies to provide the customers of automotive brands with mobile-first insurance at the point of sale.
These partnerships are focused on providing insurance that’s fit for purpose for today’s customer needs and facilitating an all-important ongoing relationship between insurers, automotive companies and customers that extends far beyond their initial purchase.
Wrisk recently launched a first-of-its-kind flexible monthly subscription-based car insurance product in partnership with the RAC, a UK-based motoring organisation.
Nimeshh Patel, chief executive officer of Wrisk, said: “Wrisk has come a long way on our journey from creating a contents insurance app to becoming a strategic partner to large automotive brands by building and operating mobile-first insurance experiences that their customers engage with.”
Philea Chim, senior vice president at QBN Capital, added: “We are excited to invest and work with the Wrisk team supporting them to refine and perfect their offering, always staying ahead of customers’ tastes and the industry’s own evolution.”