A London-based InsurTech with a client base which includes BMW, Mercedes-Benz and Jaguar Land Rover has raised a £12m Series B funding round as it looks to expand across Europe.
Wrisk, which provides embedded insurance solutions to the automotive sector, has also built programmes for the likes of Volvo, MINI and Stellantis.
The firm recorded triple-digit revenue growth in 2024, writing over 100,000 policies and will now kickstart its European expansion to meet growing demand for premium, branded and data-driven insurance.
The round was co-led by Mundi Ventures and Opera Tech Ventures, the venture arm of BNP Paribas – both of whom will join Wrisk’s board of directors.
With a commercial team in Munich and regulatory licences secured, the company will look to grow its presence across the region by supporting new clients and enabling existing UK partners to scale into European markets.
“We have been at the forefront of shaping digital automotive insurance solutions,” said Nimeshh Patel, CEO of Wrisk.
“Our approach to innovation, with a focus on exceptional user experience, has attracted and retained globally recognisable partners, demonstrating the value in our propositions.
“It has also attracted significant investment interest, and we now welcome Mundi Ventures and Opera Tech Ventures to our board, firms that align with our strategic ambitions.
“This funding represents an endorsement of Wrisk’s vision, as we aim to accelerate UK and European growth, enhance our data and intelligence capabilities, and scale our partner programmes, transforming how insurers and automotive brands connect with their customers.”
The funding will also help the business to deepen engagement with existing partners and support new partner acquisition.
Rafaela Andrade, partner at Mundi Ventures, added: “Our investment in Wrisk reflects our belief in their holistic approach to embedded insurance. The business has demonstrated a clear understanding of the evolving needs of automotive manufacturers, delivering effective insurance solutions that have brought market-leading scale.
“We are pleased to support Wrisk’s European expansion and their continued efforts to advance the opportunity of embedded insurance.”
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