Stubben Edge Group has secured £10 million in investment following a doubling of business since its first round in December 2020. 

The investment into the London-based InsurTech is led by Dowgate Capital. Cornerstone investors include a number of Lloyd’s Names, Nigel Wray, Nick Leslau and institutional investors.

The company has embarked on an ambitious growth strategy including selective M&A activity, as illustrated by the announcement last week of its purchase of cash management company Akoni Hub and will target the funds to continue providing the best selection of services to brokers and IFAs who want to start, run, and grow their businesses.

The Stubben Edge Group is aiming to revolutionise insurance distribution, providing a digital platform where distributors, brokers and IFAs can start, run and grow their businesses. 

Its technology enables entrepreneurs to find and sell better insurance products, cheaper and faster to a growing database of over 12m GDPR-compliant potential customers, while also supplying administration, finance, compliance and marketing services at the touch of a button.

“The financial services industry is arbitrary, antiquated, unbalanced and therefore not delivering the best products and experience to those working within it and to those customers needing it,” said CEO Chris Kenning.

“Our ambition is to change that, empowering brokers and IFAs to provide better value-for-money, security and confidence for customers and their families, while building long-term business success.”

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David Poutney, chief executive of Dowgate Capital, commented: “Chris Kenning and the team at Stubben Edge are well-positioned with their strategy and products to take full advantage of the opportunity and we’re pleased to have been able to provide them with this initial round of growth capital and look forward to continuing to work with them on their journey.”