Insurello secured $8 million from Inventure, Luminar and Schibsted.

Finland Sweden Investments 26 June 2020
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Insurello, a Stockholm, Sweden-based company selling insurance services via a digital platform, announced that it completed a SEK 75M ($8M) capital investment round.

The funding was led by Finnish venture company Inventure and included participation from existing investors Schibsted Growth and Luminar Ventures.

Insurello, founded in 2017 and led by CEO Marcus Janback, sells insurance products. The company claims that since its start it handled 85,000 cases and helped consumers receive SEK 75 million in compensation. However, it runs a money-losing operation at a 2019 turnover of SEK 11M ($1.2M).

Prior to this round, Insurello raised roughly $4 million.