SME insurtech Superscript lands £45m Series B
UK SME insurtech Superscript has secured a £45 million ($54m) Series B funding round.
Insurtech Superscript lands £45m Series B
The round, led by existing investor BHL UK, owner of Comparethemarket, saw participation from new investor The Hartford and existing investors including Concentric.
The funding will be used to develop Superscript’s underwriting and broking capabilities, which are supported by machine learning capabilities, as well as to expand its range of insurance products and services for international distribution.
There will also be a focus on building upon existing embedded partnership capabilities, the firm says.
Cameron Shearer, CEO and co-founder of Superscript, says that despite “a challenging macroeconomic environment and shift in global investor appetites”, the funding round represents a “huge vote of confidence” in Superscript.
“The flexibility, customisation and affordability we offer puts us in a unique position to meet the insurance requirements of small businesses during turbulent times, as they navigate economic challenges this year,” Shearer adds.
The Series B follows a $10.4 million investment round led by BHL Holdings in February 2020. Since then, the firm claims to have seen more than a fivefold increase in active customers.
