PriyaPatel
TLDR:
PeppercornAI, an Insurtech company, raised £3.25M in a round from Wealth Club, EHE, and Angels Invest Wales despite a downturn in UK fintech and insurtech investments.
Key points:
- The round was oversubscribed, indicating high interest in the company’s technology.
- PeppercornAI uses conversational AI (chatbots) to reduce operating costs, protect risk, and enhance customer experience through its SaaS platform Pipr.
Full Article:
PeppercornAI, an Insurtech company based in Cardiff, has successfully raised £3.25M in funding from Wealth Club, EHE, and Angels Invest Wales. This investment comes at a challenging time for early-stage companies seeking capital, making the oversubscription of the round a significant achievement for PeppercornAI.
The company utilizes conversational AI technology, specifically chatbots, to drive cost reduction, risk protection, and improved customer experience through its SaaS platform Pipr. With the new funding, PeppercornAI plans to further develop its conversational AI platform and cater to increasing B2B demand both in the UK and internationally.
Nigel Lombard, CEO and Founder of PeppercornAI, emphasized the transformative potential of AI in the insurance industry. He highlighted the industry’s historical hesitance towards technological adoption and how PeppercornAI aims to bridge this gap by offering seamless integration and tangible benefits to insurance providers.
Gayle Bowen, Head of Direct company investments at Wealth Club, expressed confidence in PeppercornAI’s ability to revolutionize the insurance sector based on the company’s proven technology and industry expertise. The successful funding round signifies investor belief in PeppercornAI’s capabilities and potential impact on the insurance industry.
