This is the Wrisk pitch deck to raise a $6.5m series-a round in 2021.
About
Wrisk combines Insurance and Technology in one simple app. Starting with contents insurance, Wrisk expands its offering to serve the insurance needs across different aspects of people’s lives. From motor to travel, health to professional, Wrisk will bring everything together into one simple plan that can grow with its customers.
Customers are given a Wrisk Score which provides the information they need to understand their risk. The more information provided, the more accurate the score becomes, empowering customers to get a better score and reduce their premiums. They can update their details and manage their policy any time, anywhere and it takes effect immediately.
Wrisk plans to engage not only those who are already insured, but also people who’ve never bothered with insurance. Working with partners such as BMW, Hiscox, QIC, Bupa and Munich Re, the Wrisk team captures both existing market share and builds an entirely new mass market too.
An insurance startup that allows drivers to pay for cover based on the miles that they drive recently raised $6.5 million.
London-based Wrisk, which was founded in 2016, won the fresh funds ina Series A round backed by Guinness Asset Management. The startup is part of the ongoing insurance tech boom, which is working to disrupt the multibillion-dollar industry.
Europe’s insurance startups have already raised more in the first five months of 2021 than in the entirety of 2020, according to Pitchbook, as investors bet on newcomers disrupting an industry perceived as slow to innovate.
Wrisk recently launched a first-of-its-kind flexible car insurance product with RAC, one of the UK’s leading motoring organizations, that allows people to pay for cover for the miles that they drive. The company also enables BMW and Mini to sell flexible car insurance through their websites.
“We’re constantly looking ahead to what the future of buying, working and traveling behaviours looks like, to ensure that insurance delivers on the evolving protection needs of customers,” said CEO Nimeshh Patel.
Alongside Guinness Asset Management, Wrisk’s SeriesA fund also received backing from Hong Kong-based QBN Capital and Cell Rising Capital.
Funding rounds
|
Announced Date
|
Transaction Name | Number of Investors | Money Raised | Lead Investors |
| May 17, 2021 | Series A – Wrisk | 3 | £4.6M | QBN Capital |
| Apr 13, 2019 | Equity Crowdfunding – Wrisk | — | £978.7K | — |
| Jun 15, 2018 | Equity Crowdfunding – Wrisk | 1 | £1M | — |
| Dec 20, 2017 | Seed Round – Wrisk | 1 | — | — |
| Nov 14, 2017 | Venture Round – Wrisk | 1 | £3M |
Oxford Capital Partners
|
| Oct 31, 2017 | Equity Crowdfunding – Wrisk | — | £698K | — |
| Mar 1, 2017 | Seed Round – Wrisk | 1 | — |
BMW Innovation Lab
|
| Aug 4, 2016 | Seed Round – Wrisk | 7 | £3M |
Oxford Capital Partners
|
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