Announced
Completed
Financials
Sources
Tags
Acquisition
insurtech
Minority
Domestic
insurance services
United Kingdom
fintech
Single Bidder
Completed
FinTech
Private
Venture Capital
Private Equity
Friendly
Synopsis
Octopus Ventures, a venture capital company, led a $38m Series B funding in Flock, a UK insurtech company, with participation from CommerzVentures, Social Capital, Dig Ventures, Anthemis and Foresight Ventures. “We’ve grown revenues about 30 times since the Series A. We’ve only recently launched our motor fleet product and we’ve landed about 600 commercial customers. We now insure about one third of the U.K.’s independent Amazon fleets. We’ve also partnered with about 100 commercial insurance brokers in the U.K. and I believe that is one of the core reasons that we were able to raise a Series B,” Ed Leon Klinger, Flock CEO.
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