Insurely offers an open insurance platform that lets insurers, banks and insurtechs access real-time insurance market data through a single point of integration. The product is designed to digitise insurance processes and simplify data access across carriers and financial players. The company counts Swedish customers including Avanza, ICA Försäkring, Lassie and Hedvig. Insurely was founded in 2018 and has built an easy-to-use solution for open insurance. Financially, the company has just closed a €19 million Series A to support growth. Management says the funds will be used to scale the business into new European markets. The firm plans to accelerate expansion with the U.K. and France among the first target markets. Insurely offers APIs and solutions for Open Insurance, enabling companies to build services for switching insurance contracts and embedding insurance into personal finance management apps. It provides white-labeled API solutions and an end-consumer app that supports almost a hundred thousand users by aggregating existing insurance policies, terms and costs. Several Swedish insurance players, including ICA Försäkringar and challenger Hedvig, use the platform. Launched in 2020 by Johan Forsman, Eric Sevelius, Martin Einemo and Lotta Rauséus, the company operates in Sweden and Norway and is headquartered in Stockholm. Insurely raised €2.5m in the current funding round and had previously secured €500k in pre-seed capital from angel investors. The company intends to use the new funds for recruitment and international expansion.

Total raised

$24M

Funding rounds

2

Latest round

Series A

Latest activity

Mar 2022