UK-based insurtech firm Uinsure has secured an undisclosed funding from non-public fairness firm Lloyds Improvement Capital (LDC).
Specialising in connecting monetary intermediaries and lenders with main UK insurers, Uinsure leverages a cloud-based platform to simplify the insurance coverage course of for its prospects.
Over the previous decade, Uinsure is claimed to have recorded a compound annual income development of 27%.
The backing from LDC will assist Uinsure additional increase market share, discover new markets, and increase its community of partnerships with intermediaries, main constructing societies, and banks.
In recent times, Uinsure has enhanced its expertise capabilities, together with the event of latest utility programming interface (API) integrations, buyer expertise enhancements, and a complicated pricing engine.
The corporate additionally doubled its expertise group headcount inside the final two years.
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Uinsure CEO Simon Taylor stated: “Proper from the very first assembly, LDC has been aligned with our imaginative and prescient to take away the complexity of insurance coverage for our companions and their prospects. Once we began on the lookout for an investor to assist us by way of our subsequent section of development, discovering the appropriate accomplice who shares our tradition was extraordinarily essential to us.”
“The group at LDC will likely be working carefully to strategically assist us with our long-term objectives, as we discover new markets and develop our community of partnerships.”
LDC accomplice within the North West Aziz Ul-Haq stated: “Uinsure’s latest large-scale funding in its expertise means it’s completely positioned to serve its goal market by providing a digital-first answer with a aggressive edge.
“It has a extremely skilled and extremely bold administration group whose providing has disrupted the trade and revolutionised the market. We’re trying ahead to working with them to assist it develop additional.”