Urban Jungle raises £8m in Series A funding from Mundi Ventures and Eka Ventures to scale operations.
The funding round was backed by Mundi Ventures and Eka Ventures.
Urban Jungle is an insurance technology provider that uses machine learning and digital platforms to deliver home insurance. The company focuses on fairness and accessibility for renters and homeowners.
London based insurance provider Urban Jungle has secured £8m in a Series A follow on investment round. Backing for the round was led by Mundi Ventures and Eka Ventures alongside private investors. The company will use the capital to scale operations and introduce new insurance products to its suite.
Founded in 2016, the company applies machine learning and data analytics to assess risk, curb fraud, and widen insurance access for demographics often overlooked by traditional providers. Alongside the funding announcement, former Prudential chief executive Rob Devey is stepping up to become the company's chairman.
From the founder
"We’ve continued to grow strongly throughout the pandemic and that has been attractive for both new and existing investors. Our tech platform means we can grow our customer base rapidly without having to build an army of customer service agents. That said, we’ve got ambitious growth plans, so we’ll be doubling our headcount in the next 12 months to support that."
Jimmy Williams
Co-Founder and CEO at Urban Jungle
Investor perspective
"The insurance industry is experiencing a major shift powered by new technology and innovation and it is accelerating"
Yago Montenegro
Investment Director, Mundi Ventures
Use of funds
- 01Continue product development
- 02Scale operations
Investors
Categories
About the company
Urban Jungle
Urban Jungle provides technology-driven home insurance products for renters and homeowners.