Insurtech Rnwl Nears Funding Target on Seedrs

Rnwl, an interesting UK-based Insurtech, is raising growth capital on Seedrs.

The offering page indicates the Rnwl is offering a 1.79% equity stake at a pre-money valuation of £8.2 million. The company is EIS qualified, a Seedrs Nominee and approved for the Secondary Market.

As of today, Rnwl is over 80% of its initial funding goal, having raised £122,342 from 158 investors.

Rnwl is predicated on the thesis that insurance providers typically raise your premium every year. Due to inertia, consumers frequently accept these price increases as shopping for comparable offerings is tedious at best. Rnwl automates the price comparison process, allowing the user to select a better or less costly alternative. Rnwl aims to allow users to control all of their insurance products in a single App.

Rnwl makes its money by collecting a commission from your new insurance provider – when you make a change. Commissions are typically paid in the insurance business but the service provided by Rnwl helps users save money while helping with the shopping task.

The offering page states:

“Our product has begun to be noticed in the industry by some of the top banks and other companies. We’re currently in potential partnership discussions with banks and other financial services companies who together serve millions of customers.”

Rnwl last raised money on Seedrs in 2021 when it closed a funding round at almost £500,000.

The App is currently available on both the App Store and Google Play.

Rnwl was co-founded CEO Gonçalo de Vasconcelos, who also co-founded SyndicateRoom and is well-known in the Fintech space.



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