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Wrisk storms past crowdfunding target

Wrisk storms past crowdfunding target | Insurance Business

Wrisk storms past crowdfunding target

Insurtech Wrisk, whose first crowdfunding campaign was a success, has once again hit its target.

In just two days on equity crowdfunding platform Seedrs, the start-up has raised more than its £500,000 goal. A similar campaign back in October was able to garner support from more than 500 investors to the tune of £600,000 in less than a week.  

Wrisk gained Financial Conduct Authority (FCA) authorisation in December and allows users to purchase contents insurance via its app. Accepted to join the FCA Sandbox, the insurtech is poised to expand its offering to include motor, buildings, travel, and business cover.

“We are delighted by the response we’ve received to our second crowdfunding campaign,” said co-founders Niall Barton and Darius Kumana in a joint statement. “For us, crowdfunding has always been about much more than just investment.

“It’s allowed us to build a community of not just financial backers, but supporters, advocates, and customers, and we can’t wait to welcome both new and old faces to that community as a result of this current round.”

Launching its Series A next year, Wrisk has so far partnered with Munich Re, Hiscox, QIC, Bupa, and BMW.

 

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