Parsyl, a cargo insurance provider operating in the US and London, has announced it raised $20m in a Series C funding round.
The Lightsmith Group led the round, with participation from HSCM Ventures, GLP Capital Partners, Lineage Ventures, and FirstTracks Ventures.
Founded in 2017, Parsyl combines technology and insurance solutions to provide marine cargo coverage for goods in storage and transit. The company operates as a managing general underwriter (MGU) and runs its own managed syndicate at Lloyd’s of London, leading one of the largest marine cargo consortia in the London market.
The funding will enable Parsyl to strengthen its team and technology, expand its underwriting appetite, enhance product offerings, and enter new geographies. The company aims to further support critical supply chains across industries and locations.
Parsyl collaborates with over 20 providers of third-party capacity, including those in delegated underwriting, consortia, reinsurance, and Funds at Lloyd’s. Its client base spans a range of industries and geographies, offering tailored solutions to meet varied supply chain needs.
Commenting on the investment, Parsyl CEO and cofounder Ben Hubbard said, “We are thrilled to have the support of The Lightsmith Group and our existing investors as we continue to grow and innovate. This funding further validates our vision and will enable us to strengthen our team and our technology, while we expand our underwriting appetite, product offerings and geographies to impact more critical supply chains.”
Jay Koh, managing director of The Lightsmith Group, added, “Climate change is disrupting complex supply chains. Parsyl provides clients with a dynamic solution to this dynamic problem. We are proud to partner with Parsyl as they apply AI and data to help clients address critical supply chain risks. Climate resilience is supply chain resilience.”
To date, Parsyl has raised approximately $66m, including previous funding rounds.
Keep up with all the latest FinTech news here.
Copyright © 2025 FinTech Global
