Insurely to raise SEK 25 million in fresh capital in an investment round led by Luminar Ventures.

Sweden 18 February 2021

Insurely, a Stockholm, Sweden-based developer of an open insurance platform, announced that it secured capital funding in the company totalling SEK 25M ($3M).

The money was raised from investors led by the local early stage VC from Sweden Luminar Ventures. Jacob Key of Luminar Ventures will take a seat on the company's board.

The proceeds will be used for hiring more people and for expanding operations to more markets in the Nordic region and in Europe.

Insurely, operated by The Great Collective AB and founded in 2018 by Martin Einemo (CEO), Lotta Rauséus, Johan Forsman and Eric Sevelius, developed a service app that makes it easy for consumers to manage and switch among different insurance products.

The company also operates a B2B platform -  the Open Insurance solution - a flexible API integration helping insurers and financial companies access insurance data from as much as 95% of the Swedish insurance market.

Both services are available in Sweden and in Norway.

Insurely previously raised about $400k in capital funding from angel investors from Sweden including Emanuel Lipschütz, Elias Jacobson, Robert Chirico Willsted and Mikael Karlsson.

Total investments received (USD): 3.38M