Chartered commercial broker Konsileo has completed a £8 million raise to accelerate its expansion across the UK. Konsileo specializes in mid-market advised sales for small, medium, and mid-corporate businesses.
The £8 million raise is a mixture of debt and equity financing led by long-term shareholders Committed Capital, together with ACF Investors Growth Lending, a specialist growth finance provider. The investment will be used for staffing and technology development.
Konsileo is designed to avoid layers of middle management that add little value to clients or colleagues and replace them with structures supporting self-management and collaboration. It facilitates brokers with different specialties to team up and agree directly on how to divide the work and benefits and embeds real-time compliance checking.
Its placement platform supports brokers in searching the whole of the insurance market for the best quote for their clients rather than being led by a management diktat on preferred placement partners. Its data capture and e-trade platform assists its brokers in presenting insurers with a more detailed view of the client.
In the last year, Konsileo has grown by two-thirds to become a £12m brokerage, placing more than £60 million GWP on a run-rate basis.
“Putting brokers at the heart of our organization – and designing the best working practices and technology to support them to do their best work for their clients – resonates with talented professionals and clients alike,” Konsileo co-founder and CEO John Warburton said. “This latest investment gives us additional firepower to keep growing our award-winning commercial broking organization. We’re delighted to have the support of Growth Lending, Committed Capital, and ACF investors.”
“The firm stands out for all the right reasons, with a clearly differentiated proposition in a thriving commercial broking market, alongside proprietary technology that underpins its growth strategy,” added Kimberly Martin, managing director at Growth Lending. “This, plus a strong and ambitious management team and supportive equity investors, is a winning combination.”
“Konsileo has become a rarity in the commercial insurance broking sector,” said Committed Capital chief executive Steve Harris. “It has delivered strong organic growth on a highly capital-efficient model. It has reached scale without acquisitions and without compromising on integrity and culture.”