Digital Risks raises $10.4 million in Series A

London-based small business insurance intermediary Superscript announced it has raised $10.4 million in a Series A investment round led by BHL Holdings, the owner of Comparethemarket.com . Nire Capital also participated in the round alongside existing investors Concentric, Beazley and Seedcamp.

Established in 2014, the company (a team of 31) offers SMEs an online platform to buy and manage insurance. And late last year it announced its partnership with Starling Bank which back then enjoyed access to 65,000 business account holders. Its general liability is underwritten by Aviva, its cyber insurance is underwritten by select underwriters at Lloyd’s, and its legal expense is underwritten by DAS Legal Expenses Insurance Company.

Get a feel for its flow below:

 

At some point, it also rebranded.

Before:

 

After:

“We’re challenging this status quo head on, modernising business insurance for the better, and building a brand that businesses want to advocate. Our approach looks at every insurance cover from a new perspective. Rather than asking what risks we’re willing to cover, we ask what businesses need and then find the solution.” – Digital Risks CEO Cameron Shearer.

“We’re living in the age of the disrupter. Across every industry new tech-led businesses are changing attitudes and processes for the better. In the insurance sector, a market deeply ingrained with traditional ways of working and thinking, it’s Digital Risks that is leading this charge. Offering flexible, bespoke cover to SMEs faster than ever before. An extremely exciting business in its field, Digital Risks is looking to continue its rapid growth across the UK. This investment will help support the business to achieve this goal.” – Ian Leech CFO at BHL.