Superscript raises £8.5m in Series A follow-on funding led by BHL Holdings to scale operations
Bled by BHL Holdings, the fresh capital will be used to double the UK workforce and invest in proprietary technology.
Superscript is a digital-first insurance provider offering bespoke and flexible coverage for small businesses and high-growth technology companies.
Superscript has secured £8.5m in a Series A follow-on funding round led by BHL Holdings. The round also drew participation from the Government's Future Fund, Seedcamp, Concentric, and the London Co-Investment Fund.
The capital will be directed towards doubling the company's UK workforce over the coming year and further developing its proprietary technology platform. This expansion aims to support growing demand from small businesses requiring flexible insurance options.
The raise follows a period of rapid growth during 2020, marked by initiatives such as payment breaks and free cover for NHS workers during the pandemic.
From the founder
"The current pandemic has hit small businesses a lot harder than their larger, established counterparts. The economy is experiencing significant turbulence right now and the business landscape will be unrecognisable in a year's time. As a small business championing small businesses, this investment will speed up our ability to deliver bespoke insurance to underpin individual business needs. Helping businesses to not only weather this storm, but scale and thrive."
Cameron Shearer
CEO and co-founder at Superscript
Investor perspective
"We're pleased to be continuing our investment in Superscript's growth. What first attracted us to invest in the insurtech is what still excites us today. Superscript has truly transformed the insurance experience for small businesses, with an attractive online user journey and bespoke, flexible cover options. It has proven its commitment to supporting its small business customers during the current pandemic and we're excited to see its next stage of growth."
Tom Wilson
Partner, Seedcamp
Use of funds
- 01Grow the team
- 02Continue product development
Investors
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About the company
Superscript
Superscript provides digital-first insurance solutions for small businesses and technology companies.