Insurance tech incubator seals deal on £2.5m Series B investment

Insurtech Gateway incubator has closed a funding round of £2.5m.

Led by data-driven investor Moxley Holdings, this is the only FCA-authorised independent incubator with a £30m fund.

This funding will ensure the incubator can continue its work and support early-stage insurtech founders. It plans to grow the portfolio from 10 to 30 companies within the next three years.

Moxley Holdings is a venture capital firm providing resources to early-stage founders building companies using data-enabled business models in $100bn markets.

It was said to be a founding investors in Pie Insurance, who recently raised $45m in a Series B funding. It has also co-invested in other large tech ventures alongside 22C Capital and Sirius Group.

Stephen Brittain, co-founder of Insurtech Gateway, commented: “The emerging opportunities created by the convergence of predictive data and insurance models appear almost boundless.

“Moxley Holdings compliments our vision to bring these capabilities together and build the next generation of insurtechs.”

Meanwhile, Joel Moxley, founder of Moxley Holdings, concluded: “Gateway is the place where the rubber meets the road, bringing bold new ideas to the insurance market.

“We love how their licensed launch platform allows entrepreneurs to stay independent, while having access to valuable resources. We are looking forward to our data expertise enhancing the already amazing Gateway team.”