London Insurtech InMyBag Now Seeking £500,000 on Seedrs

InMyBag, a London-based specialist tech insurer, is now seeking £500,000 through its equity crowdfunding campaign on SeedrsFounded in 2016, InMyBag is described as the “savior” of mobile professionals because it protects devices and data from loss, theft, and damage through its insurance plans.

“InMyBag offers insurance to both individuals and SMEs with a UK first guarantee – an aim  to replace lost, stolen or damaged gadgets in as little as four hours and always within 24 hours. The firm’s products, which start from as little as £7.99, aim to give small businesses and individuals who rely on technology for work the confidence that their vital equipment is covered and can be replaced quickly through the use of Amazon Prime and Apple’s distribution networks.”

Gustav Holst Stuge, CEO of InMyBag, stated:

“Consumers are bearing the brunt of the insurance industry’s sense of complacency. Spiraling replacement times and convoluted claims processes have created a perfect storm for customers who have no confidence that their invaluable gadgets will be replaced in anything like a timely manner. Quite simply the insurance industry is failing to move with the times – as companies and freelance workers are more and more reliant on their devices to work remotely, the prospect of spending any sort of time without their tools is unthinkable.”

Holst Stuge added:

“As devices become more pricey – and consequently more attractive to opportunistic criminals – there’s more need than ever that consumers can trust their insurance provider to deliver. We’re hoping that this fundraise will give us the resources to reach even more people that need ultra-responsive cover.”

InMyBag has also formed an exclusive partnership with back-up services company, CrashPlan. The equity crowdfunding campaign has officially launched and InMyBag is seeking the funds to grow its development and sales time. The funding round will stay open for up to 60 days and give investors a chance to receive a portion of a 16.67 stake in the company’s equity.

 


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