On Monday, we were incredibly proud to announce that we have raised $45 million in our latest funding round.
We are excited to welcome a new investor, Toscafund to the INSTANDA family, along with our existing shareholder Dale Ventures. Their commitment will support our ongoing global expansion and overarching ambition to digitise the insurance value chain.
They share our vision and see the enormous opportunity to change the insurance landscape by enabling our clients to create dramatic efficiencies, as well as generate new revenue from new and revitalised propositions for their end customers.
As the world’s first no-code dedicated insurance platform, INSTANDA can deliver these benefits in multiple markets and across all lines of insurance. We do this at speed, our track record shows we are 10 times faster than anyone else.
We are already the core digital platform for many of our existing MGA clients. With this new funding we will extend our platform to provide a digital core platform for larger companies. Benefits will be realised much faster and so it will offer a compelling alternative to multiyear, multimillion change programs that deliver negligible ROI.
Aside from delivering speed and efficiency benefits to many more in the industry, our solution when used widely, will save the industry billions in wasted technology spend.
It has been another momentous year for INSTANDA. Despite a global pandemic and the associated economic and social challenges, we have achieved a substantial growth, adding 21 new clients across the US, UK, Europe and Japan, reaching over 70 clients globally by Q1 of 2022.
We could not have done it without our generous investors, incredible team, and forward-thinking clients whose commitment, support, and confidence in us have been truly phenomenal.
As a true innovator, we are restless by nature, constantly striving to stay ahead of the curve, to not only meet our clients’ needs but anticipate them. It is an exciting future ahead for INSTANDA and I look forward to sharing our successes and new developments with our clients and partners. There is so much more to come.