Aventus, a B2B digital insurance platform, has collected £2.6m in its funding round which will be used to scale up the business.
The capital injection was led by Outward VC and Notion Capital with commitments also coming from TriplePoint and Downing Ventures.
Aventus provides a modular insurance operating system which allows insurers to create policies and automatically quote and bind in under a minute. The platform also enables insurance providers to create and launch new products, leverage first and third-party data to improve quote journeys, combine policy administration and CRM into one location, and automate back-office processes.
Notion partner Chris Tottman said, “Consumer Experience Innovation for B2B is a big focus at Notion. Aventus was a ‘proof of concept’ B2C but they recognised the B2B opportunity and needed someone to fund the pivot. That’s where Notion came in.
“We love repeat founders, we love propositions which solve significant pain where you can establish a strategic foothold quickly and cost effectively, and we believe in the moats created by UX innovation for B2B to consumers.
“The insurance experience will rapidly shift to a more consumer centric designed set of propositions. Those insurers who nail it will win big and it’s the underlying technologies like Aventus that will be the enablers of this.”
Last year, Notion Capital contributed to the $75m Series E funding round for payments company GoCardless.
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