Frog Capital has taken a significant stake in the London insurtech provider.
"The GENASYS platform reduces a key barrier insurance businesses face to tailoring products to the needs of the insured. As a consequence, individuals seeking to insure a particular risk are more and more likely to find a product that fits their respective needs, thus leading to better peace of mind and reduced hardship for the insured."
The London-based startup has closed one of Europe largest friends and family rounds, backed by Edward Eisler and employees of Eisler Capital.
"Online written content market is broken. Nowadays, it is so difficult for content creators to be discovered by their audience. As a result, we see too many talented creators struggling to grow their audiences."
The financing round was backed by InMotion Ventures, Porsche Ventures, and Autotech Ventures.
"Our main competitors are the large BNPL providers such as Klarna and credit cards. We are interest free and with short payment terms, customers are debt free quickly but risk long term debt with credit cards."
The seed round was led by Octopus Ventures to support platform growth and white-label expansion.
"I am absolutely convinced that the future of fashion is circular, and we are proud to be at the forefront of this accelerating consumer shift. In the UK alone, customers spend £2.7 billion on outfits they wear just once while more than $400 billion of clothing is discarded across the globe each year – another shocking statistic. As a millennial, I’m part of a generation that loves shared ownership. We’ve all witnessed the rise of disruptive tech-first businesses such as Airbnb and Uber and if we can rent our houses and cars, why not our wardrobes."