{"id":14814,"date":"2021-01-18T13:36:37","date_gmt":"2021-01-18T10:36:37","guid":{"rendered":"https:\/\/insly.com\/?p=14814"},"modified":"2023-08-22T12:39:08","modified_gmt":"2023-08-22T09:39:08","slug":"insly-secures-a-seed-extension-of-1-3m-eur-from-concentric-and-uniqa-ventures-and-ends-2020-in-profit","status":"publish","type":"post","link":"https:\/\/insly.com\/en\/blog\/insly-secures-a-seed-extension-of-1-3m-eur-from-concentric-and-uniqa-ventures-and-ends-2020-in-profit\/","title":{"rendered":"Insly\u00a0secures\u00a0a seed\u00a0extension\u00a0of 1.3M EUR\u00a0from\u00a0Concentric and\u00a0Uniqa\u00a0Ventures\u00a0and ends\u00a02020\u00a0in profit\u00a0"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><h2 style=\"text-align: justify;\"><strong>Insurance SaaS software provider Insly has secured a seed extension of 1.3M EUR from existing VCs Concentric and Uniqa Ventures, with participation from The British Business Bank&#8217;s Future Fund Scheme. Combined with solid results for 2020 &#8211; 72K EUR in profits and 3.4M EUR in revenues- this will pave the way for scaling up the business in 2021.<\/strong><\/h2>\n<p style=\"text-align: justify;\"><span data-contrast=\"\">Regardless of a stormy year, Insly managed to launch a completely new <a href=\"https:\/\/insly.com\/2021\/01\/14\/why-insurers-and-mgas-should-use-low-code-and-no-code-insurance-software\/\" target=\"_blank\" rel=\"noopener\">low-code <\/a><\/span><span data-contrast=\"\">platform <\/span><span data-contrast=\"\">for MGAs and insurers<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">which<\/span><span data-contrast=\"\"> enables<\/span><span data-contrast=\"\"> them <\/span><span data-contrast=\"\">to<\/span><span data-contrast=\"\"> build<\/span><span data-contrast=\"\">\u00a0insurance product<\/span><span data-contrast=\"\">s<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">ten times faster <\/span><span data-contrast=\"\">than<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">the previous <\/span><span data-contrast=\"\">software <\/span><span data-contrast=\"\">version.<\/span><b><span data-contrast=\"\">\u00a0<\/span><\/b><span data-contrast=\"\">In addition, <\/span><span data-contrast=\"\">well-considered, yet <\/span><span data-contrast=\"\">challenging decisions and<\/span><span data-contrast=\"\"> a clear<\/span><span data-contrast=\"\"> focus on growth paid off\u00a0<\/span><span data-contrast=\"\">with<\/span><span data-contrast=\"\"> profitable\u00a0<\/span><span data-contrast=\"\">business results.<\/span><span data-ccp-props=\"\">\u00a0<\/span><br \/>\n<span data-contrast=\"\">&#8220;<\/span><span data-contrast=\"\">The year started quite shock<\/span><span data-contrast=\"\">ingly fo<\/span><span data-contrast=\"\">r<\/span><span data-contrast=\"\"> us\u00a0<\/span><span data-contrast=\"\">&#8211;<\/span><span data-contrast=\"\"> just after\u00a0<\/span><span data-contrast=\"\">having<\/span><span data-contrast=\"\"> decided to start\u00a0<\/span><span data-contrast=\"\">fundraising<\/span><span data-contrast=\"\">,<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">the <\/span><span data-contrast=\"\">COVID-19 crises hit the world<\/span><span data-contrast=\"\">. We<\/span><span data-contrast=\"\"> faced\u00a0<\/span><span data-contrast=\"\">the<\/span><span data-contrast=\"\"> difficult decision of\u00a0<\/span><span data-contrast=\"\">whether to<\/span><span data-contrast=\"\"> continue with fundraising and investments or\u00a0<\/span><span data-contrast=\"\">set ourselves into normal growth mode. <\/span><span data-contrast=\"\">C<\/span><span data-contrast=\"\">ho<\/span><span data-contrast=\"\">o<\/span><span data-contrast=\"\">s<\/span><span data-contrast=\"\">ing<\/span><span data-contrast=\"\">\u00a0the latter<\/span><span data-contrast=\"\">, we successfully<\/span><span data-contrast=\"\"> turned Insly into <\/span><span data-contrast=\"\">a <\/span><span data-contrast=\"\">profitable <\/span><span data-contrast=\"\">company<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">and<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">maintained<\/span><span data-contrast=\"\"> a\u00a0<\/span><span data-contrast=\"\">notable <\/span><span data-contrast=\"\">32%<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">growth in sales<\/span><span data-contrast=\"\">&#8220;, <\/span><span data-contrast=\"\">commented <a href=\"https:\/\/www.linkedin.com\/in\/ristorossar\/\" target=\"_blank\" rel=\"noopener\">Risto Rossar<\/a>, CEO and <\/span><span data-contrast=\"\">F<\/span><span data-contrast=\"\">ounder of Insly.<\/span><br \/>\n<span data-contrast=\"\">Kjartan Rist, the Founding Partner <\/span><span data-contrast=\"\">of<\/span><span data-contrast=\"\">\u00a0<a href=\"https:\/\/concentric.vc\/\" target=\"_blank\" rel=\"noopener\">Concentric<\/a><\/span><span data-contrast=\"\">\u00a0added<\/span><span data-contrast=\"\">,&#8221;<\/span><span data-contrast=\"\">w<\/span><span data-contrast=\"\">e are delighted to continue the backing of Insly. The company&#8217;s combined knowledge of insurance and digitalisation means Insly is well<\/span><span data-contrast=\"\">&#8211;<\/span><span data-contrast=\"\">positioned to deploy their cloud-based product into insurers&#8217; and brokers&#8217;<\/span><span data-contrast=\"\"> systems\u00a0<\/span><span data-contrast=\"\">that are looking to digit<\/span><span data-contrast=\"\">a<\/span><span data-contrast=\"\">lise their workflow and overall operations<\/span><span data-contrast=\"\">, worldwide<\/span><span data-contrast=\"\">. The resilience, innovation<\/span><span data-contrast=\"\">,<\/span><span data-contrast=\"\"> and overall strength shown in 2020 will enable the business to reach further heights in the years to come&#8221;.<\/span><span data-ccp-props=\"\">\u00a0<\/span><br \/>\n<span data-contrast=\"\">Insly <\/span><span data-contrast=\"\">offers<\/span><span data-contrast=\"\"> full-stack\u00a0<\/span><span data-contrast=\"\">insurance software that takes selling<\/span><span data-contrast=\"\">\u00a0and administrat<\/span><span data-contrast=\"\">ion<\/span><span data-contrast=\"\"> of insurance<\/span><span data-contrast=\"\"> policies<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">in<\/span><span data-contrast=\"\">to the 21st century.<\/span><span data-contrast=\"\">\u00a0<\/span><span data-contrast=\"\">Insly&#8217;s platform is trusted by over 1000 brokers and 30 underwriters, producing combined annual premiums of over 1.1B EUR.<\/span><span data-ccp-props=\"\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\">\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insurance SaaS software provider Insly has secured a seed extension of 1.3M EUR from existing VCs Concentric and Uniqa Ventures, with participation from The British Business Bank&#8217;s Future Fund Scheme. Combined with solid results for 2020 &#8211; 72K EUR in profits and 3.4M EUR in revenues- this will pave the way for scaling up the [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":11075,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[23],"tags":[67],"class_list":["post-14814","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ens-product","tag-insurance-software"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insly\u00a0secures\u00a0a seed\u00a0extension\u00a0of 1.3M EUR\u00a0from\u00a0Concentric and\u00a0Uniqa\u00a0Ventures\u00a0and ends\u00a02020\u00a0in profit\u00a0 - Insly<\/title>\n<meta name=\"description\" content=\"Insurance SaaS software provider Insly has secured a seed extension of 1.3M EUR from existing VCs Concentric and Uniqa Ventures, with participation from The British Business Bank&#039;s Future Fund Scheme.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/insly.com\/en\/blog\/insly-secures-a-seed-extension-of-1-3m-eur-from-concentric-and-uniqa-ventures-and-ends-2020-in-profit\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insly\u00a0secures\u00a0a seed\u00a0extension\u00a0of 1.3M EUR\u00a0from\u00a0Concentric and\u00a0Uniqa\u00a0Ventures\u00a0and ends\u00a02020\u00a0in profit\u00a0 - 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