Sector Update: Fintech – InsurTech

M&A Seed / Venture Stage Update


Current Market and Predictions for 2022:

The pandemic has been one of the major disruptors of the insurance industry in recent years. And although pandemic-related restrictions have eased across the country, the future remains uncertain as new variants arise to threaten what little progress has been made.  All around the world, and in most industries, the pandemic accelerated digital transformation. For the insurance industry, the role of technology in all aspects of operations is now essential, especially as more people take up flexible working or decide to work remotely for the foreseeable future.  These new developments are forcing business leaders to re-evaluate how their business operations and user experience fit with what customers expect in a technologically advanced world.

In 2022, InsurTech will be key to modernising technology stacks to get the most value from IoT, data, and cloud. As such, InsurTech will become the norm; with SaaS-based solutions built on APIs put in place to deliver personalisation on a grand scale. Due to the level of competition in the market, the modernisation of the insurance industry will continue to grow at a fast pace. And its maturity will depend on the richness of solutions InsurTech makes possible. 


Recent Fundraising Activity –

  1. Laka provides insurance products for cyclists and their bikes. £8.85m fundraising secured from 1818 Venture Capital, ABN AMRO, Autotech Ventures, Business Angels, Creandum, Elkstone Capital, Local Globle and Ponooc. 26/01/2022
  2. Nimbla – develops software that provides SMEs with invoice insurance services. £5.10m fundraising secured from Barclays, Fin Venture Capital and undisclosed investors. 03/11/2021
  3. Zing Cover – develops an online platform and mobile app that provides insurance services for e-commerce businesses. £50k fundraising secured from undisclosed investors. 15/10/2021
  4. Coincover – develops security software designed to ensure users do not lose access to their digital assets, as well as providing cryptocurrency insurance services. £5.05m fundraising secured from Avon Ventures, CMT Digital, DRW Venture Capital, Element Ventures, FinTech Collective, InsurTech Gateway, Technology Venture Investments and Valor Equity Partners. 30/06/2021


Recent M&A Activity – 

  1. Kwalitas – provides a range of business services including finance, merchant, EPoS, insurance and accountancy. The company was acquired by DNA payments for an undisclosed sum. 01/02/2022
  2. Digital Fine Print – The company uses social information to enhance insurance provision, for example by using social information to automate underwriting or form-filling. The company was acquired by hubb for an undisclosed sum. 06/12/2021.
  3. Brolly – the company develops software that allows users to manage and assess their insurance cover policies. The company was acquired by Direct Line Group for an undisclosed sum. 16/07/2020.

We’ve worked with a range of Fintech companies on their investment journeys. If you’re thinking about raising finance or selling your businesses and would like to explore your options, feel free to get in touch with us via this link or email us at