PriyaPatel
TLDR:
Urban Jungle, an InsurTech startup, has raised £11.2 million in funding to continue its mission of making insurance fairer and more accessible. The company, founded in 2017, has helped over 200,000 customers and aims to use technology to provide better home insurance options. This funding round, led by existing investors, brings Urban Jungle’s total raised amount to £43.3m.
- Urban Jungle raised £11.2 million in funding.
- The company is changing the insurance industry by prioritizing fairness and accessibility.
Article Summary:
Urban Jungle, an InsurTech startup founded in 2017, has secured £11.2 million in follow-on funding to expand its operations and continue its mission of making insurance fairer. The London-based company, led by founders Jimmy Williams and Greg Smyth, focuses on putting fairness at the core of its operations. With a total funding amount of £43.3 million raised so far, Urban Jungle aims to disrupt the insurance industry by leveraging technology to provide better and more affordable insurance options to its customers.
The recent funding round was supported by existing investors who believe in Urban Jungle’s vision of using technology to screen out fraudsters and offer genuine customers better insurance deals. The company’s use of AI and machine learning has helped it serve over 200,000 customers to date, with a commitment to keeping insurance accessible and affordable. Urban Jungle’s approach has earned it recognition, including being named a B Corporation and achieving carbon neutrality.
Antonio Avitabile, managing director of Sony Ventures, expressed excitement in supporting Urban Jungle’s efforts to redefine the insurance landscape and make insurance more accessible to a wider population. The company plans to use the funding to further scale its UK home insurance business, expand into new verticals, and continue hiring new talent.
Urban Jungle’s ethical stance and focus on caring for customers, the community, and the environment set it apart in the insurance industry. The company’s dedication to building ethically and sustainably aligns with its goal of becoming one of the leading insurance businesses in the UK. With ongoing support from investors and a commitment to using technology for positive change, Urban Jungle is poised for further growth and innovation in the InsurTech sector.
