Flow Capital, a provider of flexible growth capital and alternative debt solutions, has closed an investment in B2B2C insurtech Wrisk Limited.
Wrisk is a digital-first insurance business that works with automotive brands to “shape the future of their customers’ mobility and insurance experiences.”
The insurtech offers an embedded white-labelled insurance platform to enterprise customers for pricing, distributing, and managing insurance products.
Flow suggests that its investment will help Wrisk accelerate its commercial activities, continue its growth within the UK and European markets, and further its global expansion efforts.
Flow continued, “Wrisk maintains strong partnerships with global auto OEMs and insurance carriers.
“Its platform can be offered as a fully managed MGA service to UK clients or can be licensed to insurance companies and enterprise partners directly in the UK or globally.
“The perpetual insurance platform is unique in the UK and enables Wrisk to deliver a true subscription proposition.”
As part of its global expansion effort, in March last year, Wrisk formed a new subsidiary called Wrisk USA Corp, based in Hartford, Connecticut.
At the time, the firm said, “Wrisk chose Connecticut as its USA headquarters given the recently announced ‘insurtech corridor’ between the UK and Connecticut.
“Wrisk believes it can bring to US consumers and its US insurer partners some of the valuable insurance innovations that it has already delivered to customers, partners and insurers in the UK market.”