{"id":15024,"date":"2022-09-14T17:43:23","date_gmt":"2022-09-14T14:43:23","guid":{"rendered":"https:\/\/insly.com\/?p=15024"},"modified":"2023-01-26T12:19:13","modified_gmt":"2023-01-26T09:19:13","slug":"insly-closes-bridge-round","status":"publish","type":"post","link":"https:\/\/insly.com\/en\/blog\/insly-closes-bridge-round\/","title":{"rendered":"Insly closes \u20ac1.1m bridge round to accelerate growth of its no-code insurance software"},"content":{"rendered":"<div style=\"margin-top: 0px; margin-bottom: 0px;\" class=\"sharethis-inline-share-buttons\" ><\/div><p style=\"text-align: justify;\"><span data-contrast=\"auto\"><a href=\"https:\/\/insly.com\/\">Insly<\/a>, the low\/no-code <\/span><span data-contrast=\"auto\">software platform for insurers, insurance brokers and <\/span><span data-contrast=\"auto\">Managing General Agents (MGAs)<\/span><span data-contrast=\"auto\">, has raised a <\/span><span data-contrast=\"auto\">\u20ac1<\/span><span data-contrast=\"auto\">.1m bridge round. Half of this figure was committed by existing investors, <a href=\"https:\/\/concentric.vc\/\">Concentric<\/a> and <a href=\"https:\/\/www.uniqaventures.com\/\">Uniqa Ventures<\/a>, and half by an angel syndicate led by <a href=\"https:\/\/fff.vc\/\">Fund Fellow Founders<\/a>. The round brings Insly\u2019s total raised to \u20ac5.8m.<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\">T<\/span><span data-contrast=\"auto\">he London and Tallinn based <\/span><span data-contrast=\"auto\">insurtech, founded by Risto Rossar, enables insurers, MGAs, brokers, and underwriters to digitise and automate their mid and back-office operations, including<\/span><span data-contrast=\"auto\"> distribution, policy administration, underwriting, claims, and reinsurance.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\"><a href=\"https:\/\/www.linkedin.com\/in\/ristorossar\/\">Rossar<\/a> started Insly after establishing <\/span><span data-contrast=\"auto\">IIZI Group in 2000, believed to be one of <\/span><span data-contrast=\"auto\">the first digital insurance brokers in world. On selling the business in 2014, he founded Insly with the mission of making insurance technology easy to implement and use, enabling insurance brokers to increase efficiency, optimise customer experience, and reduce unnecessary costs.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\">Initially an SaaS solution for brokers, Insly has since diversified into tools for MGAs and insurance companies, while also developing<\/span><span data-contrast=\"auto\"> a no-code product which is customisable and easily configurable, reducing the need for maintenance and costly development talent.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\">In the last eight years, Insly has grown to a team of 100, with offices in Tallinn (core development unit), London (HQ), Vilnius, and Warsaw. It <\/span><span data-contrast=\"auto\">serves over 1,000 brokers, MGAs, and insurers, with over 15,000 users, and over \u20ac0.5bn gross premiums transacted on the platform.<\/span><span data-contrast=\"auto\"> Its customers <\/span><span data-contrast=\"auto\">span 52 countries around the globe and global revenues have grown by over 30% in the last year.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\">Rossar says that, while the bridge funding isn\u2019t immediately required, it will help the business to accelerate growth across its broker SaaS division in Poland and its MGA and insurer SaaS division spanning London and Tallinn. The funds will enable further product development, as well as fuelling sales and marketing initiatives to acquire new customers.\u00a0<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p style=\"text-align: justify;\"><span data-contrast=\"auto\">\u201cInsly has had a successful few years, developing our no-code offering and making significant inroads into the MGA and insurer market,\u201d comments Rossar. \u201cWe are onboarding new customers all the time, and the business is also close to breaking even, a fantastic achievement in a relatively short space of time. This bridge round will enable us to step up our product development, sales and marketing, so we can bring our products to even more customers, and move closer to our goal of building one of the <\/span><span data-contrast=\"auto\">biggest insurance platforms in the world<\/span><span data-contrast=\"auto\">.\u201d<\/span><span data-ccp-props=\"{}\">\u00a0<\/span><\/p>\n<p>ENDS<\/p>\n<p><a href=\"https:\/\/www.finsmes.com\/2022\/09\/insly-raises-e1-1m-in-bridge-funding.html\">FINSMES<\/a><\/p>\n<p><a href=\"https:\/\/insurance-edge.net\/2022\/09\/14\/insly-raises-1m-in-funding-round\/\">Insurance Edge<\/a><\/p>\n<p><a href=\"https:\/\/ffnews.com\/newsarticle\/insly-closes-e1-1m-bridge-round-to-accelerate-growth-of-its-no-code-insurance-software\/\">Finance &amp; Fintech News<\/a><\/p>\n<p><a href=\"https:\/\/justentrepreneurs.co.uk\/news\/insly-closes-11m-bridge-round-to-accelerate-growth-of-its-no-code-insurance-software\">Just Entrepreneurs<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Insly, the low\/no-code software platform for insurers, insurance brokers and Managing General Agents (MGAs), has raised a \u20ac1.1m bridge round. Half of this figure was committed by existing investors, Concentric and Uniqa Ventures, and half by an angel syndicate led by Fund Fellow Founders. The round brings Insly\u2019s total raised to \u20ac5.8m.\u00a0 The London and [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":15026,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"content-type":"","inline_featured_image":false,"footnotes":""},"categories":[23,335],"tags":[18],"class_list":["post-15024","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ens-product","category-press_release","tag-insly"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v23.7 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Insly Raises \u20ac1.1m in Funding Round | Insly<\/title>\n<meta name=\"description\" content=\"Insly, the low\/no-code software platform for insurers, insurance brokers and Managing General Agents (MGAs), has raised a \u20ac1.1m bridge round.\" \/>\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-closes-bridge-round\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Insly Raises \u20ac1.1m in Funding Round | Insly\" \/>\n<meta property=\"og:description\" content=\"Insly, the low\/no-code software platform for insurers, insurance brokers and Managing General Agents (MGAs), has raised a \u20ac1.1m bridge round.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/insly.com\/en\/blog\/insly-closes-bridge-round\/\" \/>\n<meta property=\"og:site_name\" content=\"Insly - Design &amp; deliver insurance products\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/inslycom\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-14T14:43:23+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-01-26T09:19:13+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/insly.com\/wp-content\/uploads\/2022\/09\/Insly-Fundraising.png\" \/>\n\t<meta property=\"og:image:width\" content=\"2004\" \/>\n\t<meta property=\"og:image:height\" content=\"782\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/png\" \/>\n<meta name=\"author\" content=\"Mohammadreza Gharaeiyan\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@insly_com\" \/>\n<meta name=\"twitter:site\" content=\"@insly_com\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mohammadreza Gharaeiyan\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-closes-bridge-round\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-closes-bridge-round\/\"},\"author\":{\"name\":\"Mohammadreza Gharaeiyan\",\"@id\":\"https:\/\/insly.com\/en\/#\/schema\/person\/950c68d1ff5bf7ef863ec7ad752aa8e5\"},\"headline\":\"Insly closes \u20ac1.1m bridge round to accelerate growth of its no-code insurance software\",\"datePublished\":\"2022-09-14T14:43:23+00:00\",\"dateModified\":\"2023-01-26T09:19:13+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-closes-bridge-round\/\"},\"wordCount\":411,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/insly.com\/en\/#organization\"},\"image\":{\"@id\":\"https:\/\/insly.com\/en\/blog\/insly-closes-bridge-round\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/insly.com\/wp-content\/uploads\/2022\/09\/Insly-Fundraising.png\",\"keywords\":[\"Insly\"],\"articleSection\":[\"Insly News &amp; 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