Insly raised a seed round of €1M
Insly, global SaaS solution for insurance brokers and agents, raised a seed round of €1M.
A software company established one and a half years ago through spin-off from an Estonian broker company, raised a seed round of 950 000 EUR with numerous angel investors from UK, USA, Estonia, Switzerland and Germany participating in that round.
Insly is the only global SaaS solution for insurance brokers and agents. Customizable cloud-based solution helps to manage clients, policies, objects and payments and offers an easy sales workflow for both the client as well as for the salesperson.
Recent investment will mostly be used for strengthening the company’s development team and for mapping out new potential markets for growth.
“The most important achievement of us is the breakthrough to London insurance market. Our sales team has managed to sell cloud based software to most conservative customers – London insurance brokers. They walk around Lloyd’s of London with slipcase full of papers and do business mostly based on trust. And now many of them have decided to move all of their core business to cloud and this is really proven to be a right decision for them. This is huge achievement for our sales team and, of course, an important recognition for our product developers,” commented Mr Risto Rossar, CEO and founder of Insly.
Insly employs 30 people in offices in London, Tallinn, Minsk, Warsaw and Vilnius. Company’s revenue in 2015 was 870 000 EUR and it’s growing rapidly reaching at least 1.6 million in 2016.