London-based insurtech startup, Wrisk recently landed €5.3 million and is planning to use it to scale its platform, according to the media. The investment was led by QBN Capital, Guinness Asset Management and Cell Rising Capital participation. The firm has planned to use the investment to grow its team and scale its platform to support the client demand.
Wrisk was founded in 2016, and it aims to create a flexible, frictionless and personalised insurance experience for its customers. The startup has partnered with leading insurance companies to offer the customers mobile-first insurance at the point of sale. This will give insurance that best fits the purpose for the needs of the customers. Wrisk’s ‘WriskScore’ is a feature the company provides to allow homeowners, renters and motorists to understand how their insurance premiums are calculated.
In April, Wrisk launched a flexible monthly subscription-based car insurance product, which is the first of its kind, will allow consumers to pay for the miles they drive. The product was launched in partnership with the RAC, one of the UK’s most progressive motoring organisations. Wrisk intends to become an indispensable partner to the automotive industry as the mobility trends like electric and autonomous vehicles arise and different car ownership models and driving patterns gain momentum.
Nimeshh Patel, CEO of Wrisk, addressed the media and said that the firm is constantly looking ahead to the future of buying, working and travelling behaviours. This will help them to ensure that insurance is delivered on the evolving protection needs of customers.