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The stake is being sold by Hinduja Group’s Mauritius-based investment arm IIHL.
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The private equity firm has asked investment banks to present proposals for a mandate to oversee the sale of its stake, with JPMorgan identified as the preferred adviser.
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The insurance brokerage said the consultative service is intended to address digital infrastructure risk across a range of infrastructure and operations.
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Simply Business has expanded its cyber cover via a partnership to grow its UK market share.
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Organisations are deeply concerned about business continuity as insurance capacity erodes.
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Coinbase Ventures and Franklin Templeton joined the round as new investors, while Brevan Howard Digital and other existing investors also continued their support.
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