UK Insurtech Co. Raises £15M In Funding Round

Law360, London (December 3, 2019, 1:37 PM GMT) -- A London-based insurance startup said Tuesday that it plans to take on Britain’s biggest insurers and change the industry with its pay-as-you-drive app after it raised £15 million ($19.5 million) for the launch.

Cuvva, a company started in 2015 to offer flexible motor insurance to suit the increasingly "on-demand" economy, said it raised the £15 million in venture capital from companies and so-called angel investors to launch their pay-monthly insurance product in 2020.

“We buy lots of goods and services via flexible subscriptions to suit our on-demand lifestyles. Why shouldn’t you be able to do that for insurance?” Cuvva founder Freddy...

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