Insurance startup Open Insurely raises 19 million euros; signs an agreement with SEB

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Insurely, a Swedish fintech start-up that uses open banking data to help insurers personalize premium offers, has signed SEB as an anchor client.

Founded in 2018. Insurely’s open insurance platform gives insurers and financial players access to real-time insurance market data. The data feed helps institutions personalize and streamline the online customer journey and optimize their pricing strategies. Several Swedish players like Avanza, ICA Försäkring, Lassie and Hedvig already use Insurely.

The deal with SEB follows Insurely’s completion of a €19m Series A funding round in March, in which the Swedish bank’s venture capital arm participated.

“Open insurance is where open banking was three or four years ago and we see clear development potential in this area, which makes it a very exciting investment,” says Fredrik Ljungblad, chief investment officer at SEB. Venture Capital. “With new regulations underway in the EU, we believe the market will be open over the next few years. Insurely is very well positioned in this space and we look forward to working with them and being part of their continued journey.

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