Genasys secures £12.3m from Frog Capital to drive global expansion
Frog Capital has taken a significant stake in the London insurtech provider.
Genasys provides a cloud-based insurance management system that helps global insurers, brokers and underwriters streamline operations and launch products quickly.
London-based insurtech software provider Genasys has secured £12.3m in funding from Frog Capital. The investment will support the company as it pursues further international expansion and scales its operations.
Founded following an initial contract to build an insurance administration system, Genasys offers a modular, full-stack platform used by clients across 16 countries. The company manages a gross written premium of over £1bn and provides tools for product building, document design and workflow creation.
Frog Capital takes a significant stake in the business as part of the transaction, while the existing management team remains in place. The round is the second software investment made by Frog in the span of a month.
From the founder
"The team at Frog have bought into our model of building sustainable growth and are genuine in their desire to add real value to our business. We love their 'rolled-up sleeves' approach with their operating partners and Scale-Up Methodology and believe that we have found exactly the right partner to help us as we scale-up our business."
André Symes
Joint CEO at GENASYS
Investor perspective
"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."
Jens Düing
Senior Partner, Frog Capital
Use of funds
- 01Expand into international markets
