Pay-per-mile car insurance.
James Blackham (Founder, CEO)
Callum Rimmer (Founder, ex-CTO)
The acquisition has negligible impact on the Group’s capital position.
The platform currently supports 10 brands.
By Bits provides two main services - an insurance rating engine and an insurance policy management system.
Rather than paying an annual premium, drivers pay a lower fixed amount each year to cover their non-driving risks, such as theft and vandalism, then pay for the rest of their cover monthly, based on how many miles they drive.
In 2019, Yolt reached over one million users and was chosen as the best personal finance app at the International Payments Awards 2019.