Qumata secures £7m Series A funding led by MMC Ventures to accelerate product development and international growth
The Series A round was led by MMC Ventures and will support global expansion and product development.
Qumata provides machine learning and artificial intelligence underwriting solutions to transform the life and health insurance industry. The firm uses digital data to calculate risk and assess conditions without lengthy questionnaires.
London-based insurtech Qumata has secured a Series A investment of £7m led by MMC Ventures, with participation from AdirVentures, family offices, and existing backer TMT Investments. The fresh capital will be directed towards accelerating product development and driving international expansion following commercial deployments across Europe, Asia Pacific, the UK, and North America. Alongside the funding announcement, the business formerly known as HealthyHealth unveiled its rebranding to Qumata to better reflect its market position.
From the founder
"Insurers are increasingly embracing digital innovation, but there is still significant opportunity for further optimisation, particularly in the underwriting process. Our customers are already seeing significant benefits in using our technology to transform the traditional underwriting journey, and benefiting from higher conversion rates and improved underwriting outcomes"
Luca Schnettler
Co-founder and CEO at Qumata
Investor perspective
"Qumata is well placed to bring much needed transformation to traditional life and health insurance underwriting, with a genuinely innovative data science led solution that is unique in the market."
Oliver Richards
General Partner, MMC Ventures
Use of funds
- 01Continue product development
- 02Expand into international markets
