Global insurance technology company Inshur has raised an undisclosed Series B round led by JVP. Existing investors Viola Fintech, and MTech Capital also participated in this round.
With the fresh funding, the company has raised $35M (approx €29.55 million) in total so far.
The company intends to use the funds to accelerate global growth plans, enabling it to invest in technology, recruit people, and bring new Insurtech products to market, the company said in a statement. Inshur is rolling out new commercial insurance products for delivery and courier drivers. The firm currently has a team of over 100 based in New York, Brighton (UK), and Amsterdam.
Founded by Dan Bratshpis and David Daiches in 2017, this New York startup provides insurance protection for businesses and their workforces. The company, which is rolling out new commercial insurance products for delivery and courier drivers, currently has a team of over 100 based in New York, Brighton (UK), and Amsterdam.
Commenting on the funding, Dan Bratshpis, Inshur CEO and Co-Founder, said: “We are excited to have JVP on board as a partner. We share the same vision that a new breed of an insurance company is required to support businesses in a fast-changing economy. JVP has the experience and resources we need to accelerate our growth plans, expand our proposition, and delight more customers.”
“Commercial insurance hasn’t evolved much in the recent past. Distribution is mostly analog, pricing models are woefully outdated, and the processes are time-sucking and inconvenient. We’re here to shake things up. There is a real opportunity to leverage new technology and data to re-invent insurance and make it truly fit the way modern businesses operate,” he added.
