Risto Rossar starts IIZI Insurance Brokers, the world's first online broker, operating in Estonia, Latvia, Lithuania and Finland.
Identifying a niche for insurance technology, Risto starts Insly, initially selling broker software in Estonia.
Insly is chosen for the Startupbootcamp fintech accelerator in London, establishing it in the UK. Later the same year, Insly launches its dedicated software for MGAs and insurers and wins its first MGA client.
After years of success in Estonia, Insly expands its insurance broker platform to Poland and Latvia.
Insly raises a pre-seed round of €1.3m, involving Risto and his IIZI partners and investors, to further develop its MGA and insurer platform.
Insly raises €2.1m seed investment from Concentric, Black Pearls and Uniqa Ventures, plus support from early backers.
Insly launches its low-code product for MGAs and insurers, accelerating customer onboarding.
Insly secures an additional €2.3m in funding to fuel its expansion, with contributions from both new and returning investors, including a syndicate from FFF Ventures.
Claims management tool is rolled out, enabling customers to handle the entire insurance lifecycle through the platform.
Insly launches Brokerflow, a cutting-edge software platform for insurance brokers worldwide, facilitating the creation and management of proposals, application forms, and risk assessments.
Insly raises €1.7m in venture debt from Hambro Perks to scale up operations.
Insly acquires Polish company TubaPay, an application enabling insurance agents to process premium payments via credit card and online. The deal expands Insly’s service offering and forms part of the company’s strategic plan to provide MGAs, insurers, brokers, and agents with all the technology and services they need.
Insly celebrates its 10th anniversary, reaching an €8 million annual revenue run rate and achieving profitability.