Sweden-based InsurTech Insurely has raised €19m in Series A funding led by New York-based global private equity and venture capital Insight Partners.
The round also saw participation from the Swedish investors Alfvén & Didrikson. The company had, until today, raised €3m. Previous investors, Luminar Ventures, Philian, and Neptunia Invest, continued to invest in the A funding round, with Insight Partners and Alfvén & Didrikson entering as new investors.
Insurely said its open insurance platform makes it possible for insurers and financial players to access real-time data from the insurance market. The data helps players to personalise and streamline the customer journey online, optimising their pricing and developing products that customers demand.
Several Swedish players like Avanza, ICA Försäkring, Lassie and Hedvig are using Insurely, and the company said with this latest funding, its solutions will soon be made available in other European markets as well.
Martin Einemo, CEO and co-founder of Insurely, said, “We have seen an increased interest in our open insurance platform among European insurers and banks. With the new funding and support we are well positioned to strengthen our offering by scaling the team and adding further key competence. Given the successful growth in existing markets, we are convinced the expansion will take Insurely to the next level.”
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