Breez secures £200k in a friends and family funding round to build its telematics platform.
The UK-based car insurer and technology provider raised the capital from more than 50 investors.
Breez provides smartwatch-centric car insurance and telematics technology. The firm uses wearable and mobile data to quantify motor insurance risk.
Breez has secured £200k in a friends and family funding round to develop the core functionality of its telematics platform ahead of a public launch later this year. The company bypassed traditional venture capital and angel funding routes, securing over 50 investors via a video pitch.
Founded by Dino Bertolis, the business aims to modernise motor insurance through wearable technology. Its platform combines smartphone and smartwatch data to measure risk and offer services such as crash detection and predictive analytics.
The fresh capital will support technical development as the firm prepares to introduce its direct-to-consumer car insurance offering in the UK market.
From the founder
"We wanted to create a community around Breez where those close to the business can support it from the outset and share in its success. Our funding round raised money quickly and we incurred minimal associated costs, which meant that we could focus our time, effort and resources on building a brilliant business."
Dino Bertolis
Founder and CEO at Breez
Use of funds
- 01Continue product development