Insurtech Gateway incubator closes round of £2.5m, led by data-driven investor Moxley Holdings
The only FCA authorised independent incubator, with it’s own £30m fund to support startups post incubation, the Insurtech Gateway is the fastest place to build and launch an insurtech idea.
This funding is a strategic alignment with Moxley Holdings, and will ensure the Gateway incubator can continue its groundbreaking work, supporting early-stage insurtech founders with pioneering ideas. They plan to incubate 20 new companies over the next 3 years.
The current portfolio companies are taking on the most challenging concepts insurtech has to offer, from the world’s first crypto currency insurance to building brand new products around parametric instant payouts.
Moxley Holdings is a venture capital firm providing resources to early stage founders building companies using data-enabled business models in $100B markets. They were founding investors in Pie Insurance, who recently raised $45 million in a series B funding. And have co-invested in other large tech ventures alongside 22C Capital and Sirius Group. Gateway is particularly excited about their deep experience in data science, leveraged by their technical partner Rho AI.
“The emerging opportunities created by the convergence of predictive data and insurance models appear almost boundless. Moxley Holdings compliments our vision to bring these capabilities together and build the next generation of insurtechs”Stephen Brittain, Co-Founder, Insurtech Gateway
“Gateway is the place where the rubber meets the road, bringing bold new ideas to the insurance market. We love how their licensed launch platform allows entrepreneurs to stay independent, while having access to valuable resources. We are looking forward to our data expertise enhancing the already amazing Gateway team”Joel Moxley, Founder of Moxley Holdings
The Insurance Times recognised the Gateway’s innovative investment strategy, when they crowned them ‘Investor/Innovator of the year 2019’. Matt Connelly, founder and CEO of Tallt Ventures, said the judges saw an “impressive commitment to the early stage funding of start-ups with disruptive potential with the powerful USP of being the only FCA authorised insurtech sandbox.”
“The team behind the Insurtech Gateway have formidable breadth of knowledge when it comes to getting startups off the ground. They get what startups need, have an impressive network, and the opportunity for incoming startups to cut down their time to market will be very valuable.” Adam Rimmer, Co-Founder at FloodFlash (Gateway portfolio founder)
“When you’re doing something new, it can be hard to find believers. When you’re trying to do insurtech and blockchain at the same time it can be almost impossible! From the very start, we had believers in the Gateway team. They have helped us shape big ideas into deliverable solutions and found forward-thinking leaders in the insurance industry who are willing to embrace new opportunities” David Janczewski, Co-Founder at DAS (Gateway portfolio founder)