Insly announced a €1.3 million seed funding extension backed by Concentric and Uniqa Ventures

Insly, a Talinn, Estonia and London, UK-based insurance SaaS software provider, announced a €1.3 million ($1.6M) extension to its seed financing round.

The money was raised from existing VCs Concentric and Uniqa Ventures, with participation from The British Business Bank’s Future Fund Scheme.

Insly, founded in 2000 and led by CEO Risto Rossar, offers full-stack insurance software that helps insurance companies with selling and administration of insurance policiesThe platform is in use by over 1000 brokers and 30 underwriters, producing combined annual premiums of over €1.1B. In 2020 the company produced €72K in profits and €3.4M in revenues.

Insly announced raising €1.8M in seed capital in 2018.