Butter Insurance raises $1.3 million

Australian insurance startup Butter Insurance has closed a $1.3 million pre-seed funding round backed by Flying Fox VC, Quokka Ventures, FB10X and Startmate.

Founded in 2021, Butter Insurance, which plans to launch next month, will allow consumers to insure electronics such as iPhones and laptops within sixty days of purchase via its platform.

The startup will look to expand its single-item coverage for more products such as jewelry, snowboards, and more.