Led · Equity · Sep 2022

Insly offers a low/no-code, full-cycle insurance software platform for insurers, brokers and MGAs, with modules for product launch, distribution, accounting, reporting and claims management. The platform targets C-suite employees and underwriters looking to launch and distribute new products and to streamline administration. The company plans to use the new funding to scale products, boost marketing, and accelerate growth. Insly was founded in 2013 and is led by founder and CEO Risto Rossar. It has grown to a team of 100 and maintains offices in Tallinn (core development), London (HQ), Vilnius and Warsaw. Insly serves over 1,000 brokers, MGAs and insurers with more than 15,000 users across 52 countries. Insly provides a low/no-code full-cycle insurance platform that enables insurers, MGAs, brokers, and underwriters to digitize and automate mid- and back-office operations including distribution, policy administration, underwriting, claims, and reinsurance. The product targets MGAs and brokers with the goal of simplifying insurance technology implementation and improving efficiency and customer experience. The company serves over 1,000 brokers, MGAs, and insurers, with more than 15,000 users and has processed over €0.5bn in gross premiums on its platform. Insly reports global revenues grew by over 30% in the last year and the business is close to breaking even. It operates offices in Tallinn (core development), London (HQ), Vilnius, and Warsaw. The company plans to use new funding to accelerate product development and ramp up sales and marketing to acquire additional customers. Insly is a UK-based provider of full-stack insurance software to sell and administer policies. Its platform is used by over 1,000 brokers and 30 underwriters, producing combined annual premiums of more than €1.1 billion. The company recently launched a low-code platform for MGAs and insurers that it says allows teams to build insurance products "ten times faster" than the previous software. Insly turned profitable during the COVID-19 period and maintained a notable 32% growth in sales. The product focus is on enabling brokers, MGAs and underwriters to speed product development and policy administration through its SaaS platform. Insly is a cloud-based insurance software company offering insurance policy management for brokers, agents, MGAs and wholesale. Founded in 2015 and based in London, UK, the company is led by CEO Risto Rossar. Insly's platform serves 180 customers across 40 countries. The company reported close to €2 million of revenue in 2017. Insly intends to use the new funds to develop its platform, scale the business and expand into new markets. Its core product focuses on cloud-based policy administration for intermediaries and managing general agents. Insly offers a SaaS-based solution for insurance brokers and agents to manage clients, policies, objects and payments, and includes a sales workflow for both clients and salespeople. The company was established about one and a half years earlier as a spin-off from an Estonian broker company by CEO Risto Rossar. Insly intends to use the seed funds to strengthen its development team and to map out new potential markets for growth. The business employs 30 people across offices in London, Tallinn, Minsk, Warsaw and Vilnius. Financially, Insly reported €870k in revenues in 2015 and expected to reach €1.6m in 2016. The product focus and the planned hiring and market expansion were cited as primary uses of the new capital.

Participated · Seed · Aug 2022

RecruitLab offers a video-recruitment platform combining ATS functionality with recruitment marketing, social media, candidate experience and asynchronous video interviewing to automate recruitment. The product targets recruiters at SMEs and small recruitment agencies as a plug-and-play alternative to incumbent ATS providers such as Workable, Bullhorn, Taleo, Lever and Greenhouse. RecruitLab says its platform reduces hiring time by 50% and counts clients including DPD, Circle K, Tallink and KPMG. The company raised €1.9 million in a seed round to support growth. Proceeds will be used to expand into the U.K. and other European markets, triple the workforce and add new functionality to the platform. RecruitLab offers a recruiter-centric marketing and applicant tracking platform with a clear user interface and integrations to recruitment channels such as job boards and social media. The product includes tools for building job adverts, automated interview scheduling and video interviewing, aiming to improve communication with candidates and cooperation between recruitment teams. RecruitLab says its platform automates repetitive tasks and, based on customer feedback, saves on average 50% of the time spent on recruitment. The company reports month-over-month growth of 25% over the past six months and serves customers in both public and private sectors including DPD, Thermory, Tallink, KPMG, Relancer, Tradehouse and Brandem. With the new funding the team plans to expand to new markets and hire additional employees.

Participated · Equity · Apr 2022

DriveX is an Estonian startup founded in 2019 by Rauno Sigur, Kentti Koppel, and Valter Läll that builds AI-assisted technology for remote vehicle inspections. Its platform digitises and automates pre-inspection processes using image recognition to validate applicant-provided vehicle condition data. The company says it can save insurers up to 90% of inspection costs and is currently focused on the global auto insurance market, estimated at more than $880 billion. DriveX already serves large insurance customers including BTA (Vienna Insurance Group), ERGO (Munich Re), and BALTA (PZU Group) across Estonia, Latvia, Lithuania, Croatia, and Romania. The startup plans to expand across Europe—targeting Poland, Czechia, and Romania to strengthen its position in CEE—and to pursue markets in Africa and the Middle East. It is preparing to roll out an automated visual damage detection feature intended to reduce fraud in vehicle inspections and transform processes around vehicle transfers.

Led · Seed · Feb 2022

Votemo is an online event custom-made engagement tool that provides engagement features for event organisers. The company is based in Tallinn. It completed a €250,000 seed round as its maiden external financing. The new funding will be used for product development and to advance marketing and sales activities. Founder Maarit Mäeveer said FFF and VNTRS ran workshops with the team before the investor–startup collaboration. Due diligence by a lead investor helped give other angels confidence to join the round.