Insurello raises 25 million SEK in new share issue
Insurello raises 25 million SEK through a new share issue where Schibsted Growth becomes a new investor while Luminar Ventures further increase their existing investment. Insurello is a challenger within the insurance industry with a digital service which helps consumers easily make insurance claims after a personal injury.
Since Insurello’s start in 2017, the company has been awarded “top 100 insurtech companies in the world" as well as doubled in staff to 30 people – in the past year alone.
"We love fintech and we love Insurello’s vision of simplifying something complex for consumers. At Schibsted we’re fully behind this principle. Marcus has managed to build a strong team and built an impressive product which clearly stems from the needs of consumers. This is something we’re happy to invest in and help further develop."Pontus Ogebjer, Investment Manager at Schibsted Growth.
"Marcus is a very driven and talented entrepreneur, who’ve over-delivered on all fronts since our first investment. Understanding the need to strenghten the team with experienced and talented people within growth, product development and tech – and managing to do so, is a key attribute for a founder. Insurello is growing fast, but has still only scratched the surface of the value that can be added to the insurance industry through digitization."General Partner Jacob Key at Luminar Ventures.
Around 600 000 people experience personal injuries in Sweden each year, but many of these miss out on the compensation they’re entitled to. This is due to several factors but first and foremost because the claims process is too complex.
"We fight for everyone’s right to fair compensation, regardless of previous experience, knowledge or background. Unfortunately, many people miss out on money that they’re entitled to. We can help the insurance companies automate and simplify their claims process through our platform and subsequently help more consumers get the compensation they deserve."Marcus Janback, CEO and founder of Insurello.
The new capital will be used mainly for product development, though another important part will be to create awareness around being entitled compensation after various personal injuries.
For more information, contact:
Marcus Janback, Insurello, email@example.com
Pontus Ogebjer, Schibsted Growth, firstname.lastname@example.org
Jacob Key, Luminar, email@example.com
The story behind Insurello:
During his injury-ridden childhood as an athlete, Marcus’ mother helped him with all his insurance claims – having spent 20 years as an insurance adjuster, her expertise was invaluable to his many successful claims. Not only would she make sure the right compensation was paid out from his primary insurance – but she’d also know if there were any “hidden” insurances that could be applicable. Later, as an adult, Marcus realized how many of his friends were missing the opportunity to receive compensation when they were injured – and the idea of starting Insurello was born. Transforming the expertise of Marcus’ mother into a simple digital solution, making sure anyone can receive fair compensation after having experienced a personal injury.