Assureful raises $1.5 million

UK-based insurance startup Assureful has closed a $1.5 million pre-seed funding round led by Markd, with participation from Greenlight Re Innovations.

Founded in 2020 and officially launched in 2023, Assureful offers general liability insurance for ecommerce sellers. The startup claims that premiums auto-adjust every month based on real-time tracking of sales across every channel thanks to integrations with online platforms such as Amazon, Walmart, Ebay and Shopify.

The Lloyd’s of London Coverholder is licensed across the US.

“We’re thrilled to close this initial funding round and have the support of investors who believe in our vision to reinvent insurance for eCommerce sellers. Marketplaces such as Amazon and Walmart make carrying appropriate insurance mandatory. This capital will help us continue enhancing our proprietary technology and product offerings as we scale up to serve this fast-growing customer base. We’re proud to be the first in the industry taking this modern approach.” – Rohit Nair, founder & CEO of Assureful.

“The Assureful team has deep expertise in insurance and eCommerce having scaled and exited a number of their own eCommerce companies. We believe this makes them well-positioned to be a wonderful partner to eCommerce sellers. We look forward to seeing them expand access and availability of comprehensive, fairly priced policies for what we believe is an underserved customer segment.” – Parker Beauchamp, managing partner of Markd.