INSTANDA, a no-code core insurance platform provider has closed its latest $45 million fundraising led by Toscafund, one of Europe’s leading Growth Equity investment firms for financial services companies, with the participation of existing investor Dale Ventures.
The funds will be used to grow the company’s geographical presence in Europe, US, Japan and the UAE, as well as to rapidly augment platform capabilities including developing the existing ecosystem into a future-proofed marketplace. This move will further cement its position as the insurance industry’s most adaptive, fast, best value end-to-end platform for carriers, brokers and MGAs.
Following a $19.5 million raise at the beginning of 2020, INSTANDA‘s growth momentum continued through ‘lock-down’ and increased further in 2021 as it added 21 new clients across the US, UK, Europe, and Japan, reaching over 70 clients globally by Q1 2022. Prestigious clients in the UK and EMEA who chose INSTANDA include Atlanta (part of Ardonagh Group), Hamilton Fraser (part of GRP Group), HDI Global SE, and Standard Bank. Future revenue growth is forecast as insurers digitise customer interactions and core operations and turn to the modern, proven, scalable INSTANDA platform to meet a wide range of changing needs.
