New Zealand-based InsurTech Javln has raised NZ$7.4m in partnership with Australian IPO fund manager Bombora Investment Management.
According to a report from NZ Herald, the raise included a NZ$4.4m private offer, which was revised from NZ$3.6m.
Founded in 2011, Javln provides end-to-end policy management software to insurance agents, brokers and underwriters which allows them to save time and money, whilst delivering “quintessential” customer experience.
Dale Smith, CEO at Javln, said the fresh capital will allow the company to expand further into Australia, and further afield. He said Australia is Javln’s largest commercial opportunity for the company currently.
The capital will also be put towards boosting its staffing, which currently stands at 60, with staff based across Auckland, Hamilton and Australia.
Smith also said the company was looking at a future ASX listing in 12 to 24 months’ time, as opposed to floating its shares on the New Zealand Stock Exchange, because of Bombora’s experience with taking companies public there.
InsurTech funding is holding strong at the moment. Last week, InsurTech Element raised €21.4m in a Series B round headed by the Versorgungswerk Zahnärztekammer Berlin.
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