Aventus raises £2.6 million
Aventus , the London-based B2B insurtech startup operating under Homelyfe , has closed a £2.6 million investment led by Outward VC and Notion Capital with participation from TriplePoint and Downing Ventures. The £2.6m investment will be used to scale up the business.
Aventus first made an appearance in 2018 as an “insurance operating system” for Homelyfe. The platform allows insurers to create policies and automatically quote and bind in under a minute by asking just two questions while utilizing first and third-party data. Aventus combines policy administration and CRM in one place, and it also offers the ability to integrate with other platforms via API.
“We’re delighted to secure this round of investment for Aventus which will allow us to scale up the business to the next level. For insurers, many of the best in class technologies for distribution, marketing, customer relationship management and payments lack “insurance” specific features. The Aventus operating system bridges that gap so that insurers – whether incumbent or startup – can innovate faster, drive up premium revenue, drive down their technology costs and create a seamless buying experience for any insurance line, in any digital environment, at start-up speed. It has been a major success story for Homelyfe and now other MGAs are accessing the same affordable benefits.” – Peter Goodman, cofounder and CEO of Homelyfe and Aventus.
“Consumer Experience Innovation for B2B is a big focus at Notion. Aventus was a ‘proof of concept’ B2C but they recognized the B2B opportunity and needed someone to fund the pivot. That’s where Notion came in. We love repeat founders, we love propositions which solve significant pain where you can establish a strategic foothold quickly and cost effectively, and we believe in the moats created by UX innovation for B2B to consumers. The insurance experience will rapidly shift to a more consumer centric designed set of propositions. Those insurers who nail it will win big and it’s the underlying technologies like Aventus that will be the enablers of this.” – Chris Tottman, Partner at Notion.
“We believe insurance, like other areas of fintech, is shifting from ‘Build vs Buy’ to an operating system approach. Aventus’s flexible and cost-effective insurance operating system enables insurers to quickly innovate their products and distribution channels in a world where consumers now take real time accessibility and convenience for granted.” – Kevin Chong, co-head of Outward VC.