The Digital Fineprint team
The London-based insurtech start-up will use the money to grow its headcount and to develop its product offering.
Digital Fineprint has closed its second funding round, which saw new and existing investors pump £2m into the start-up.
The round was led by Pentech, a UK-based software-focused venture capital firm which has recently invested in companies such as Nutmeg, Fanduel and Maxymiser.
Force Over Mass and a number of angel investors from the insurance and fintech community also participated in the round.
This included Andy Homer, the previous CEO of AXA UK and Marc Moens, partner at Pentech Ventures, who will now join the company’s board of directors.
Erik Abrahamsson, CEO, said: “Partnering with Pentech is an amazing milestone for Digital Fineprint and the whole team is excited about this great opportunity.
“It’s fantastic to see the growth in the value we create, both for the insurers using our platform and their end customers, and we are looking forward to continuing to expand the business so that we can partner with further insurers.”
Launched out of Oxford University in 2016 and accelerated by Allianz and Accenture, Digital Fineprint helps insurance companies use social media data.
The company has since gone on to work with insurers such as Hiscox, QBE, and MetLife and it is now expanding its presence in the UK and abroad.
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