Insurtech company, has successfully raised €8 million in Series A funding. This funding round was led by All Iron Ventures and includes €5.5 million in fresh capital, as well as a €2.5 million convertible loan from existing investors Nervo Group and Inveready. The purpose of this funding is to bolster Insurama's financial strength and fuel strategic growth across Spain and Latin America. As an insurance distribution business that focuses on digital products and services, Insurama aims to provide differentiated, disruptive, and small print-free products that satisfy the needs of its customers.
This recent funding round adds to Insurama's previous seed funding of $6 million in 2021, demonstrating the company's continued growth and potential in the insurtech space. Insurama has secured a significant Series A funding round, totaling €8 million, to support its expansion and growth. This investment includes €5.5 million in fresh capital and a €2.5 million convertible loan from existing investors Nervo Group and Inveready. The funding will help Insurama strengthen its financial base and drive its expansion in key markets like Spain, Mexico, Portugal, Chile, and Peru. The company also plans to extend its reach into Colombia and Central America in the near future. As a digital products and services hub focused on the insurance industry, Insurama is well-positioned to capitalize on the growing demand for online insurance distribution and end-to-end services. This latest funding round is a testament to the company's potential and the confidence that investors have in its business model.
CEO Antonio García-Lozano's excitement about the investment is understandable, given that it marks an important milestone for Insurama. The company's impressive 2023 earnings, with revenues doubling to €10 million, demonstrate its strong position in the insurance market.The new funds will play a crucial role in cementing Insurama's status as a leading scale-up in the Iberian and Latin American insurance markets. By expanding its operations and services, Insurama aims to bring innovative, customer-focused insurance distribution solutions to a broader audience, further solidifying its presence in the industry. It's worth noting that Insurama has raised a total of €5 million in funding from a single seed round in June 2021. The company's sole investor, Inveready, has shown confidence in Insurama's potential for growth and success in the insurance sector.
It's impressive to see that Insurama has secured over €13 million in equity and almost €7 million in debt through four funding rounds since its establishment in late 2018. The company's financial backing demonstrates the confidence that investors have in its potential for growth and success. With a portfolio of 210,000 policies and support from top insurers like Helvetia, Axa Partners, and GNP, Insurama has solidified its position as a player in both the European and Latin American insurance markets. However, I'm curious about the discrepancy in funding information. According to Crunchbase, Insurama has completed only one funding round (a seed round in June 2021), which raised €5 million. C
Related Courses and Certification
Also Online IT Certification Courses & Online Technical Certificate Programs
SIIT is on a mission to make technology education and professional training more accessible, so more people can show off their talents and take their tech careers to the next level. All courses are tailored to meet individual specific career needs, leading to Tech Skills Acquisition and Professional Certification.
Student Login
Login & Study At Your Pace
500+ Relevant Tech Courses
700,000+ Enrolled Students
Jobs Vacancy
The Jobs portal provides you with real time Jobs Opening and Vacancy Updates curated globally. Start applying for your dream job with ease in any location you choose.
Learn More >>