InsurTech Loxa has successfully closed its £2.7m seed round, completed across three tranches.
The round was backed primarily by angels and family offices, including the Lazaroo-Hood Group, with introductions facilitated by Angel Investment Network, FundMyPitch, and the Entrepreneur’s Collective.
Capital will be deployed to drive EU expansion, scale Loxa’s retail network to 150 live partners, and broaden the platform to support every insurable product category.
Jamie Hamer, co-founder and CEO of Loxa, said: “We started Loxa because we believed embedded product protection should be as universal as the checkout itself, available to every retailer, for every customer, everywhere.
“We made a deliberate choice to build this round with angels and operators who shared our mission and backed our vision from the start, and that alignment builds better businesses.
“Closing this round means we can now deliver on that promise at scale, with the right people and resources to execute successfully.”
Since launching in 2023, Loxa has grown to more than 45 live retail partners across furniture, eyewear, power tools, electronics, catering appliances and other categories, embedding with retailers like eCatering, Toolden, Hyundai Tools, Rowen Homes, Maker & Son, and JCB ProTools.
The fundraise also marks a step-change in what Loxa can offer retailers.
As a full-stack MGA, Loxa can now build and launch insurance schemes tailored specifically to the needs of its retail partners and their products, rather than only suggesting off-the-shelf solutions.
Loxaʼs technology connects natively to over 70% of UK ecommerce infrastructure via apps for Shopify, Magento, WooCommerce, PrestaShop, and BigCommerce, as well as direct API integrations.
Loxa enables retailers to go live in as little as 48 hours.
Erjon Skora joined the business last year at a pivotal point as co-founder and managing director, bringing over 16 years of experience across MGAs, insurers, financial institutions, and online marketplaces.
Most recently he worked as MD and head of insurance and Product, EMEA at Cover Genius.
Skora said: “Closing the seed is the starting gun, not the finish line. We’re heading into a Series A with traction, a clear European roadmap, and a system that onboards retailers in under 48 hours, integrates seamlessly, handles policy volumes at scale, and delivers an excellent claims experience.
“The next 18 months will define Loxa’s position in this market, and we intend to own it.”
Loxa is advised by board advisors Robin Leigh, Richard Smith, Kayar Raghavan, and Ross Lazaroo-Hood.