Loadsure raises £1.1 million
Loadsure, the London-based insurance startup offering “smart freight insurance,” has raised £1.1 million in a round of funding led by Insurtech Gateway, alongside other corporate and angel investors.
Founded in 2018 and currently a team of two according to LinkedIn, Loadsure offers a “fully automated, end-to-end digital process” for purchasing freight insurance with a one-click insurance integration to loadboard, freight marketplace, and transportation management system platforms in the US. Loadsure operates as an MGA and is an appointed representative of Lochain Patrick Insurance Brokers, a Lloyd’s accredited insurance broker.
“Spot Freight industry is a huge market with a complex value chain where a significant volume is not insured or is underinsured. The digital end-to-end solution created by Loadsure is impressive, as is the scope of their ambition.” – Convex chairman and CEO, and Loadsure advisor, Stephen Catlin
“Insurtech Gateway has given us the confidence and support network to achieve our goals as we take Loadsure to the next level. We now have a broader set of experts behind us to help navigate the rocks that founder many startups. Their subtle but supportive approach with Loadsure has been massively appreciated.” – Loadsure founder and CEO, Johnny McCord.
“Informal marketplaces are vulnerable, lacking insurance protection for customers, and that was true of the spot freight market, until now. Loadsure really impressed us with their plan to be at the leading edge of this rapidly modernizing sector.” – Insurtech Gateway cofounder, Robert Lumley.