Insurello completed a $2.7M investment round backed by Schibsted and Luminar Ventures.
Insurello, a Stockholm, Sweden-based company providing an insurance digital solution, announced that it secured SEK 25M ($2.7M) in capital investment.
Funding will be used for product development and marketing.
Insurello, founded in 2017 and led by CEO Marcus Janback, is a challenger within the insurance industry with a digital service which helps consumers easily make insurance claims after a personal injury. The company has 30 employees and is yet to become profitable at a 2018 turnover of SEK 1.4M ($150k).
Prior to this, Insurello raised about $1M, mostly from Swedish angel investors.