Swedish insurtech player Insurely closed a financing of 19 million euros. The Series A round was led by New York-based Insight Partners, with participation from new investors including Alfvén & Didrikson and existing partners such as Luminar Ventures, Philian and Neptunia Invest. The company will use the funds to expand the business into new markets in Europe.
Founded in 2018 by Martin Einemo, Johan Forsman, Eric Sevelius and Lotta Rauséus, the company is on a mission to digitize the insurance market with its easy-to-use solutions for open insurance. The platform allows insurers and financial players to access insurance market data in real time.
Martin Einemo, co-founder and CEO of Insurely, said: “With this new funding, we expect to accelerate our expansion into strategically selected markets, with the UK and France being among the first.”
“The open insurance platform allows insurance companies, banks and insurtechs to integrate into a single access point for all insurance data. There is enormous potential in this vision,” said Teddie Wardi, managing director of Insight Partners.
Swedish players like Avanza, ICA Försäkring, Lassie and Hedvig are already using Insurely right now.