Commercial auto insurance provider INSHUR has completed its Series B round of funding, which takes its total funding raised to date to $35m.
The latest round was led by JVP. Existing investors Viola Fintech, and MTech Capital also participated in the round.
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By GlobalDataINSHUR will use the proceeds to further its growth plans, invest in new technology, expand the workforce, and develop new products.
The data-driven insurer will soon launch new commercial insurance for delivery and courier drivers.
The company is based in New York, Brighton (UK) and Amsterdam and employs over 100 people.
INSHUR CEO and co-founder Dan Bratshpis said: “Commercial insurance hasn’t evolved much in the recent past. Distribution is mostly analogue, pricing models are woefully outdated, and the processes are time-sucking and inconvenient.
“We’re here to shake things up. There is a real opportunity to leverage new technology and data to re-invent insurance and make it truly fit the way modern businesses operate.”
JVP chairman and founder Erel Margalit said: “Whether you are an Uber driver, a locksmith or a courier, you need new and dynamic insurance that will allow you to take control of your destiny and your business.
“INSHUR is enabling this new economy of small businesses to thrive, with operations in both the US and Europe.”
In February 2020, NSHUR partnered with Drivers Benefits to provide digital auto insurance to Black Car Services drivers in New York City.
