Insurello receives $700,000 from Luminar Ventures, Wave Ventures and angel investors.

Insurello, a Stockholm, Sweden-based company providing a digital service that helps you receive compensation after an injury, announced securing a SEK 6.3M ($710k) capital investment in the company.

The money comes from Swedish investors, including Luminar Ventures, Wave Ventures and angel investors Per Emanuelsson, Björn Melinder and Lars Bergström. The investment will be used to further develop the company's platform and launch other new services.

Insurello, founded in 2016 and led by CEO Marcus Janback, developed a digital platform that manages all communication and relevant processes with insurance companies for custmers interested to receive compensation after an injury. The company is yet to be profitable, with SEK 1.4M in revenues for the 2017 fiscal year.

In 2017, Insurello raised SEK 2.4M ($270k) from DHS Ventures, as well as from local private investors, including Bo Mattsson, Lars Lindgren, John Siwers and Eva Redhe.