Insurance
Image Source: Pictures of Money
Jane Imrie

Insurtech digital transformation firm secures £400k seed funding

An insurtech firm aiming to support digital transformation in the industry has secured six-figure funding in a new investment round.

House of Insurtech has secured £400k in a seed round led by SFC Capital and supported by follow-on funding from its existing angel investors.

The funds will be used to build out the sales and marketing arm of the business and to onboard new customers from the direct and embedded insurance markets onto House of Insurtech’s Insurforce platform.

Insurforce is a cloud-based Quote and Buy and Policy Administration system that empowers digital transformation for Insurers, Brokers and MGAs. It features a responsive web app built on top of a rating and underwriting API.

James Downes, founder and CEO of House of Insurtech, commented: “We’re incredibly excited to have SFC Capital on board.

“Their support and guidance throughout this seed round has been invaluable, we are also delighted that several of our existing investors have joined them in this round.”

Edward Stevenson, investment executive at SFC Capital, addec: “We are pleased to have led House of Insurtech’s latest funding round.

“The team has built a fantastic platform aimed at a significant and sizable market that is in need of innovative and disruptive solutions. We are excited about what the future holds for the company.”

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