Insurtech startup Wrisk raises over £500k in second crowdfunding campaign

Insurtech platform Wrisk has hit its crowdfunding target of £500kin just two days on Seedrs.

The campaign is already into overfunding, with the London-based startup wanting to let as many investors as possible in on the next phase of its growth.

This follows Wrisk’s crowdfunding campaign last year, which raised £600k from over 500 investors across 27 countries in under a week. Since then,

Wrisk has gained FCA authorisation and launched the beta version of its app, providing an new experience for purchasing contents insurance.

Wrisk’s founders made the decision to crowdfund once again as part of an interim bridge round, allowing them to delay the launch of their Series A until next year, by which time significant growth is anticipated.

The team has forged partnerships with Munich Re, Hiscox, QIC and BMW. This will help Wrisk expand its offering to include motor, buildings, travel, and business in one simple plan.

Co-Founders Niall Barton and Darius Kumana said: “Wrisk may be the new kid on the block, but we’re extremely proud of what we’ve achieved already. In a relatively short space of time, we’ve formed partnerships with the likes of Munich Re, BMW and Hiscox, gained FCA authorisation, launched our first insurance line and got our app into the hands of real customers who are already giving us great feedback.

“We are delighted by the response we’ve received to our second crowdfunding campaign. 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.”