FTV Capital led the £78.4m growth equity round with backing from existing investors to support new market entries and product development.
"We’re delighted to close this round with the full support of our investors. This investment gives us the opportunity to look ahead, create more jobs and provide the insurance pet owners care about for years to come."
Crowdcube led the follow-on investment round, with additional backing from Insurtech Gateway, Finance Durham Fund, and the North East Development Capital Fund.
"Raising investment is one of the most challenging aspects of running a startup, and we’re delighted to have achieved this £1.2m raise with the continued support of Maven and with further investment from the crowd. We’re also thrilled to welcome Insurtech Gateway to the honcho family. As specialists in our sector they will bring an immense amount of support to honcho as we enter our next phase of growth. Insurtech Gateway’s expertise across the sector extends from technological capabilities to expertise on products and consumer acquisition, and we’re looking forward to working with them."
The open banking platform has secured £8.1m in Series A funding led by Moneta Capital to expand its global operations.
"We are delighted to welcome our new investors who join our amazingly supportive investor list. Railsbank is at a key stage of its development and we are moving into a period of sustained expansion. Our industry leading products and highly skilled management team are being leveraged across a growing customer base, and we are continually being presented with opportunities on a global scale."
Insurtech Inzura secures £1m from angel investors to expand its international sales team and accelerate research and development.
"Digital transformation is underway across the insurance industry and we make this process as rapid and simple as possible. Our data-rich platform enables products to constantly evolve. We are currently working with global insurance brands and brokers to deliver enhanced and personalised insurance services to their customers, without having to replace legacy systems."