INSHUR announces another round of funding
New York-based INSHUR has announced the completion of additional Series B funding, led by JVP alongside existing investors Viola Fintech, and MTech Capital. The new funding takes the total raised to $35 million.
Founded in 2017, INSHUR (a team of ~100) is a mobile-first provider of commercial auto insurance for private hire drivers. The app allows drivers to quote, purchase and service their insurance policies at their convenience. The product is live in New York and the UK and Uber is a partner.
“We are excited to have JVP on board as a partner. We share the same vision that a new breed of insurance company is required to support businesses in a fast-changing economy. JVP has the experience and resources we need to accelerate our growth plans, expand our proposition, and delight more customers. Commercial insurance hasn’t evolved much in the recent past. Distribution is mostly analog, pricing models are woefully outdated, and the processes are time-sucking and inconvenient. We’re here to shake things up. There is a real opportunity to leverage new technology and data to re-invent insurance and make it truly fit the way modern businesses operate.” – Dan Bratshpis, INSHUR CEO and Co-Founder.
“INSHUR is leading an insurance revolution in the new economy, based on mobility, drivers and business owners who want to take fate into their own hands. Whether you are an Uber driver, a locksmith or a courier, you need new and dynamic insurance that will allow you to take control of your destiny and your business. INSHUR is enabling this new economy of small businesses to thrive, with operations in both the US and Europe. We are excited about the opportunity to work with Dan, David and the team to accelerate INSHUR’s development into a global category leader in commercial insurance.” – Erel Margalit, JVP Chairman and Founder.