Wrisk, a leading UK insurtech has received a £4.6 million investment to boost the company’s ambitious growth plans in growing its team and scaling up its platform, in support of automotive brands adapting to evolving mobility trends.
The investment was led by QBN Capital, with participation from investors Guinness Asset Management and Cell Rising Capital plus follow-on funds from existing investors including Oxford Capital and Seedrs.
Founded in 2016, London-based Wrisk has redesigned making insurance easier to buy, through its creation of a customisable platform for automotive, retail, telecommunications and other sectors to build hassle-free, personalised and mobile-first insurance experiences for their customers. Client partner James Klein has advised Wrisk since its very early days and has watched the company go from strength to strength.
Shoosmiths corporate principal associate, Katie Yorke who led the team advising on the investment said: “It has been a great transaction to work on and help such a fast-growth company like Wrisk move to the next stage of growing its very talented team and scale up its innovative platform, and I’d like to wish everyone at Wrisk every success in taking the next steps of their exciting journey.”
Founder at Wrisk, Niall Barton said: “James, Katie and the Shoosmiths team have once again provided unrivalled levels of support, exceptional legal and strategic commercial advice throughout this transaction.”
Shoosmiths advised on all corporate and tax aspects of the investment. The Shoosmiths team was led by principal associate, Katie Yorke with corporate support from client partner, James Klein and associate, Olivia King plus tax support from principal associate, Chris Moakes.
Wrisk works with household name brands such as BMW, Mini and Allianz and it recently launched a first-of-its-kind flexible, monthly subscription-based insurance with the RAC that allows people to pay for the miles they drive.