Startup Wrisk raises £500,000 in days

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Wrisk recently raised over half a million pounds as part of a crowdfunding campaign.
Insurance

Insurtech platform Wrisk, which provides contents insurance – and will soon offer travel, health, motor and other segments – through an app-based process, recently raised over £500,000 in just two days as part of a crowdfunding campaign. This follows a similarly successful crowdfunding campaign that the startup undertook last year, which raised £600,000 from 500 investors around the world.

Since that first campaign, the startup has received authorisation for its operations from the UK Financial Conduct Authority (FCA) and launched the beta version of its app, providing – according to the company – ‘an entirely new experience for purchasing contents insurance’.

The startup has nurtured partnerships with Munich Re, Hiscox and BMW among others, relationships that it hopes will allow it to pursue its plan of adding other insurance segments to its offering.

“Wrisk may be the new kid on the block, but we’re extremely proud of what we’ve achieved already,” said co-Founders Niall Barton and Darius Kumana. “In a relatively short space of time, we’ve formed partnerships … gained FCA authorisation, launched our first insurance line and got our app into the hands of real customers who are already giving us great feedback. We are delighted by the response we’ve received to our second crowdfunding campaign. For us, crowdfunding has always been about much more than just investment. It’s allowed us to build a community of not just financial backers, but supporters, advocates and customers, and we can’t wait to welcome both new and old faces to that community as a result of this current round.”