Insurtech Gateway, an independent insurtech incubator authorised by the FCA, has secured £2.5 million in a funding round led by data-driven investor Moxley Holdings.
The funding will allow the Gateway incubator to continue supporting early-stage insurtech founders, and help to grow its portfolio from 10 to 30 companies over the next 3 years.
Insurtech Gateway was launched in December 2017with the aim to leverage expertise and resources from a panel of reinsurers and investors to offer insurtech start-ups a kickstart into the market.
Moxley Holdings is a venture capital firm that provides resources to early stage founders building companies using data-enabled business models in $100 billion markets.
The firm was a founding investor in Pie Insurance, which recently raised $45 million in a series B funding.
It has also co-invested in other large tech ventures alongside 22C Capital and Sirius Group.
“The emerging opportunities created by the convergence of predictive data and insurance models appear almost boundless,” Stephen Brittain, Co-Founder of Insurtech Gateway.
“Moxley Holdings compliments our vision to bring these capabilities together and build the next generation of insurtechs,” he added.
Joel Moxley, Founder of Moxley Holdings, also commented: “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,” Moxley continued. “We are looking forward to our data expertise enhancing the already amazing Gateway team.”