Inshur, a New York- and Brighton, UK-based insurtech startup, raised an additional $1.5M in Series A funding.
Viola FinTech, a cross-stage venture fund that invests in global FinTech companies, made the investment that brings total funding raised to date to $9.6m, with a $2 million credit facility.
The company intends to use the funds to continue to expand operations and its business reach.
Founded in October 2016 by Dan Bratshpis, CEO, Inshur is a provider of auto insurance for TLC (New York) and Private Hire drivers (UK). The mobile app allows drivers to quote, purchase and service an insurance policy via their mobile in minutes.
The app, live in New York and the UK, is backed by Munich Re Digital Partners (MRDP) and is an approved Uber insurance partner in Europe.
The company sold $24M of premium in the first 12 months of operation in 2018.