Insly, an InsurTech 50 ranked firm, has successfully secured £1.5 million in venture debt funding from Hambro Perks, a renowned venture debt provider. This financial injection is set to propel Insly’s mission to transform the insurance industry by streamlining processes for insurers, insurance brokers, and managing general agents (MGAs).
Established in 2013 by Risto Rossar, Insly offers a low/no-code software platform that automates mid and back-office operations, covering distribution, policy administration, underwriting, claims, finance, and reinsurance. Their goal is to simplify insurance technology, enhancing efficiency, customer experiences, and cost-effectiveness.
Risto Rossar, CEO of Insly, celebrated their evolution from an IT services company to an independent product, thanks to their groundbreaking no/low-code platform. He stated, “Insly’s readiness for debt financing signifies a major financial milestone, highlighting positive cash flows and a stable, predictable revenue base. This achievement underscores the company’s robust fiscal management and market resilience, setting the stage for further innovation and expansion.”
Over the past decade, Insly has blossomed into a team of 100, with offices in key locations including Tallinn (its core development unit), Vilnius, Warsaw, and its London headquarters. They serve a diverse clientele of over 1,000 brokers, MGAs, and insurers, boasting a user base of more than 15,000 individuals and processing over £500 million in gross premiums across 52 countries worldwide.
Ross Goodwin, a partner at Hambro Perks, expressed their admiration for Insly’s forward-thinking strategies and dedication to enhancing the insurance industry’s capabilities. They eagerly anticipate supporting Insly in its journey to revolutionize the insurance sector, highlighting the exceptional skill and determination of the Insly team.
