Inzura secures £1m pre-Series A funding from angel investors

Inzura has secured £1m in a pre-Series A funding round from a group of experienced industry angel investors. The fresh capital follows a seed round in early 2018 and will support ongoing expansion across the UK and South East Asian markets.

The company works with insurance providers to deploy digital products via smartphone apps, incorporating telematics and artificial intelligence to improve loss ratios and reduce operating costs. Inzura plans to allocate the capital towards hiring sales and support staff in its key territories, alongside continued research and development in machine learning for dynamic pricing.

Revenue grew by over 65 per cent in the preceding 12 months, and management expects this figure to reach 100 per cent over the coming year. The business already counts major global insurers as clients across Singapore, Thailand, Indonesia, and the UK.