Pikl raises £2.5m in a seed and pre-series A round led by Sir Peter Wood and Bain Capital to expand its sharing economy insurance offerings.
Sir Peter Wood and Bain Capital led the funding round to support Pikl in scaling its specialized insurance business.
Pikl provides specialized insurance products tailored for the sharing economy, catering to platforms, property managers, and individuals. The firm operates from Norwich, developing market-first coverage options sold directly to consumers and wholesale to the insurance sector.
Norwich-based sharing economy insurer Pikl has secured £2.5m in a seed and pre-series A funding round. The investment was led by insurance entrepreneur Sir Peter Wood, alongside esure, Bain Capital, and a selection of angel investors.
The capital will support the company as it expands its operations and scales its specialized insurance offerings. Pikl focuses on addressing coverage gaps for short-term rental hosts whose standard home insurance policies often exclude sharing economy activities.
The firm has previously highlighted that over 1m short-term rental hosts face inadequate coverage in the UK market. By partnering with brokers and insurers, Pikl aims to provide comprehensive policies that cover both standard and shared usage.
From the founder
"We are thrilled to have Sir Peter Wood and esure, backed by Bain Capital, together with an impressive group of angel investors backing us in this venture. Their support and experience will lend considerable strength to my team as we scale up."
Louise Birritteri
CEO at Pikl
Investor perspective
"Pikl has an innovative proposition that will appeal to a fast-growing and under-served market, with significant potential for global expansion. Louise and her team have the experience and drive to fill this gap and I am delighted to support them on this journey"
Sir Wood
Chairman, esure
Use of funds
- 01Scale operations