Lovethorn closes pre-seed funding round to support its insurance technology platform.
The pre-seed round marks an early milestone for the insurance technology firm as it expands its team.
Lovethorn builds insurance technology designed to align the interests of insurers and policyholders. Its first product focuses on improving underwriting access and lowering claims on income protection products.
Lovethorn has closed its pre-seed funding round as it enters 2024, eight months after launch. The company aims to use the capital to support its mission of reshaping risk and improving the insurance ecosystem, starting with its income protection product.
Alongside the funding announcement, the firm appointed Richard Purcell as its first Non-Executive Director. Purcell brings actuarial experience from Pacific Life Re to the leadership team as the business develops its product offerings further.
From the founder
"The appointment of our first Non-Executive is a testament to our commitment to assembling an expert leadership team,"
James Lovett
Founder and CEO at Lovethorn