Send Technology Solutions raises £9m in Series A funding from Breega and Mercia to scale operations.
Breega and Mercia backed the InsurTech firm to accelerate growth in the UK and US markets.
Share allotment filed at Companies House
Send Technology Solutions provides an underwriting workbench platform designed to streamline operations and automate administrative tasks for commercial and specialty insurers. The London based software firm serves a global client base including major reinsurers and managing general agents.
Send Technology Solutions has secured £9m in a Series A funding round backed by Breega and Mercia. The investment marks the company's first external capital injection since its establishment in 2017. The proceeds will be deployed to accelerate market expansion in the UK and the US, enhance the core product offering, and scale the workforce.
The business has developed a connected platform that consolidates data and automates administrative duties for commercial and specialty insurers. Operating from London, the firm processes over £3.5bn in gross written premiums annually. Mountside Ventures advised the company on the transaction.
From the founder
"Send has the most advanced underwriting workbench on the market and a proven track record of improving underwriting processes. The funding will enable us to build on our first-mover advantage, scale up the business and establish Send as the market-leading underwriting software platform."
Andy Moss
Co-founder and CEO at Send Technology Solutions
Investor perspective
"We are delighted to lead this round and support Send in its conquest of new markets. To date, Send has the most reliable and user-friendly solution in the underwriting workbench market. Send is paving the way for a more agile industry, helping insurers, reinsurers and MGAs to transform traditional practices. At Breega, we strongly believe in their potential to become a global category leader in this space."
Maxence Drummond
VC Principal, Breega
Use of funds
- 01Continue product development
- 02Invest in sales and marketing
- 03Expand into international markets
- 04Grow the team
Investors
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About the company
Send Technology Solutions
Send Technology Solutions provides an underwriting workbench platform for commercial and specialty insurers.