UK-based InsurTech company Gryphon Group Holdings has raised £180m in investment round.
The startup will use the capital to develop its insurance platform, which will look to protect more families in the UK. Initially Gryphon will focus on life, critical illness and income protection, with a brand name due to be announced later this year.
This product’s infrastructure will be cloud-based and created in partnership with other companies including Liss Systems and EXL.
Gryphon was co-founded by former Prudential executive director Daniel Pender and former chief risk officer at Guardian Simon Davis.
Backers to the investment included Leadenhall Capital Partners and Punter Southall Group.
Gryphon Group Holdings CEO Daniel Pender said, “We are creating what we think protection should look like in today’s digital age. Technology has moved on remarkably and our ambition is to embrace that, bringing an intuitive customer offer and adviser experience to market. This will give certainty to advisers when recommending our products and enable families to feel confident that we can offer the insurance that they need.”
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