UK insurance tech (insurtech) firm PremFina has raised $36 million in both debt and equity financing led by Rakuten Capital and Draper Esprit. Other participants in the round include Thomvest Ventures, Emery Capital, Rubicon Venture Capital, Talis Capital, and the company's founder Bundeep Singh Rangar.
According to the company, the equity portion of the funding round was three times oversubscribed.
The new funds will be invested in developing its software product for insurance brokers and further internationalisation. PremFina operates a SaaS solution and funds the upfront payment of an insurance premium to an insurer and collects monthly instalments plus a fee from the insured party.
tech.eu/brief/premfina-funding/
According to the company, the equity portion of the funding round was three times oversubscribed.
The new funds will be invested in developing its software product for insurance brokers and further internationalisation. PremFina operates a SaaS solution and funds the upfront payment of an insurance premium to an insurer and collects monthly instalments plus a fee from the insured party.
tech.eu/brief/premfina-funding/