Urban Jungle raises an ‘extra £1.6 million’ to expand into new markets
London-based Urban Jungle , a company that provides insurance to ‘Generation Rent’ and Millennials has gained a further £1.6 million of investment in its second major funding round of the year.
The Munich Re-backed startup founded in 2016 has over 25,000 customers and 23 employees.
The company raised £2.5 million in March 2020 as lockdown measures were coming in.
“We wanted to raise more in the spring but, with lockdown restrictions pending, we had to close the round early. However, since then, the business has performed incredibly well and we are seeing opportunities for new products and new markets.” – CEO Jimmy Williams.
The latest funding round brings the total raised to £7.8 million.