Overview of the transaction
Insurtech start-up Concirrus Limited announced it had secured a minority investment led by investors AlbionVC in Spring 2020, and included participation from existing investors IQ Capital and Eos Venture Partners.
Both investors previously led Concirrus’ Series A funding round in 2018. In Summer 2020, an extension to the funding round was completed, led by CommerzVentures.
Concirrus will use the capital to expand its portfolio of clients globally as well as broaden the strength of its product offering and diversify across multiple business lines.
Overview of Concirrus
Headquartered in London, Concirrus is considered to be the leading provider of intelligent insurance solutions for the specialty and automotive insurance market.
Quest is Concirrus’s behavioural-based underwriting platform, which delivers portfolio management and predictive analytics to a variety of stakeholders: asset owners, brokers, insurers and capital providers using the latest advancements in big data aggregation, AI and machine learning.
The Quest platform is being adopted as the industry standard tool in the exchange of risk and capital.
Royal Park Partner's Role
Royal Park Partners acted as exclusive financial advisor to Concirrus and its board of directors.
The transaction highlights Royal Park Partners’ expertise in the insurtech space within the wider Fintech market.
CEO at Concirrus
“We are really excited to have CommerzVentures join the business. The last few months have been really busy for Concirrus as we’ve continued to sign new customers during what are clearly unprecented times. This investment is a clear vote of confidence in our vision and the value that we’re bringing to the insurance market.”
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