Insurello raises $17.3 million
Stockholm-based Insurello which helps consumers get the right compensation from insurance companies has raised ~$17.3 million in an investment round led by Nordstjernan Growth, with previous owners Schibsted and Inventure as participants.
Founded in 2016, Insurello proactively educates people about their coverage with the intent to manage and maximize their claim payouts through its digital solution. In total, the company has paid out over SEK 200 million in compensation to consumers. Here’s how it works: a user creates a case online to later have Insurello find and claim for all possible compensations based on the coverage the user has. Insurello charges a 25% fee from the insurance compensation if it’s successful. Otherwise, it doesn’t collect any fees.
“I am very happy to welcome our new investor. Together with our existing investors and our fantastic team at Insurello, we are eager to continue to expand into new markets and in more verticals in order to realize our vision of providing justice to all.” – Insurello’s CEO Marcus Janback.
“Insurello is the second investment in Nordstjernan’s new growth initiative, Nordstjernan Growth. We are impressed by the team behind Insurello and the scalability of the business and see great potential in introducing the service in more markets and in several verticals. We believe that Nordstjernan Growth is well suited as a partner in the phase in which the company is located.” – Nordstjernan’s CEO Peter Hofvenstam.
“We have been backing Insurello for two years now where the company has constantly continued to prove its strength, both through results and that very many people get the help they deserve through Insurello’s service. Marcus and his team also show how fintech combined with an attractive offer is a real winner. Therefore, we continue to invest and look forward to contributing to the continued development.” – Dan Ouchterlony, Head of Financial Services & Venture, Schibsted.
“After just over a year as a partner and investor in Insurello, where we saw how the company has gone from being strong in Sweden to also making an impression in both Denmark and France, it was completely natural to continue on the journey to make Insurello Sweden’s the next big successful company. The fact that they have also succeeded in expanding to a number of new verticals during the same short period of time indicates both what the demand is and at the same time what a great team Insurello has with Marcus at the helm.” – Linus Dahg, partner at Inventure.
