Browne Jacobson’s corporate finance team has advised on two key venture capital deals for InsurTech companies – Digital Fineprint and Dinghy – under the firm’s legal support programme for start-ups and scaling businesses – ‘Grow’.
The team advised Digital Fineprint on its USD2.7m investment round led by Pentech. The investment will allow Digital Fineprint to expand its London team and invest in the further development of its social media-powered insurance distribution software. Digital Fineprint, which was set up in 2016 and was established by a group of Oxford University students, offers insurance companies a platform enabling them to use social media data to improve their customer targeting, conversion, cross-selling and retention. The company is already working with some major insurers including Hiscox and Allianz.
Browne Jacobson’s dealmakers also advised Dinghy on its USD1.2 million seed funding deal which was led by venture capital firm Balderton Capital, with participation from industry angel investors and insurance investment company ReSolution. Dinghy offers an on-demand insurance solution for freelance professionals including tech developers, designers and consultants via a mobile first website. Dinghy’s unique, flexible offering includes a suite of insurance cover, including professional indemnity, equipment, public liability and cyber liability.
Corporate finance and tech lawyer, Jon Snade, who is based at the firm’s London office and led the Browne Jacobson team on both transactions, says: “These deals are important investments for both businesses and will facilitate further growth and product development and which will in turn support them on their journeys to success.
“Browne Jacobson combines specialist corporate advice with technology sector insights which means we can offer complex and time critical advice to a sector that requires quick and efficient responses and solutions. I am delighted that we have been able to further demonstrate our expertise on venture capital transactions and our commitment to making life easier for our clients and supporting the growth of the exciting InsurTech market.”
Erik Abrahamsson, CEO of Digital Fineprint, says: “Jon and his team were our trusted advisors during our fundraising process and were central in creating a positive outcome both for us and for our investors. I wholeheartedly recommend Browne Jacobson and the Grow programme and am grateful for the fantastic service level we received.”
Ben Wilks, co-founder of Dinghy, adds: “The professionalism of the Grow team is a credit to Browne Jacobson. I look forward to working with Jon and his team on many funding rounds in the future, they are fantastic people to have on your side.”
The firm has built a reputation for its innovative approach to delivering legal services to start ups following the launch of the ‘Grow’ programme in 2017 and which is tailored specifically for high-growth companies at any stage of the startup journey. The firm works with over 80 high-growth businesses across a broad range of sectors.
Browne Jacobson’s award winning corporate finance team has recently been ranked by Experian as a top 20 UK corporate team, based on the volume of transactions completed and is recognised by independent legal directory Legal 500 UK 2017 as a leading firm for advising on corporate deals and for FinTech.
