Urban Jungle, a London-based insurance startup, is gearing up to announce a substantial funding round of around $14.4m this week, as reported by Sky News.
The investment, sourced from existing backers including Sony Innovation Fund, signifies a significant milestone for the company.
Founded in 2016 by Jimmy Williams and Greg Smyth, Urban Jungle specialises in providing renters and homeowners insurance, catering to a customer base exceeding 200,000 individuals.
The firm sees itself as a “fair” provider of insurance cover, with its pricing point vital to its offering amidst the crippling cost-of-living crisis which is affecting families across Britain.
The firm’s offerings encompass coverage for various possessions, including phones, laptops, furniture, and more, protecting against accidental damage, theft, and loss.
With policies starting at just £5 per month, the company prioritises flexibility, enabling customers to tailor their coverage according to their specific needs.
According to reports, the fresh infusion of capital will fuel Urban Jungle’s expansion into new territories, underscoring its commitment to innovation and growth within the insurance landscape. Prior to this funding round, the company had raised approximately $47m in previous investments.
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