UK-based insurtech company Wrisk has closed a £12m ($16.3m) Series B funding round to support its strategic vision and drive expansion.  

The funding round was co-led by Mundi Ventures, Opera Tech Ventures and BNP Paribas’ venture capital arm, with participation from existing investors QBN and Volution. 

Both entities will take up positions on Wrisk’s board of directors following their investment.  

Wrisk’s data-driven platform, designed for automotive brands, enables embedded and branded insurance experiences across the entire ownership lifecycle, from quoting and binding to renewals and claims, all within a streamlined digital journey.  

Wrisk CEO Nimeshh Patel said: “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.” 

Wrisk’s technology is currently employed by several car manufacturers, including BMW, MINI, Volvo, Mercedes-Benz, Jaguar Land Rover, and Stellantis. 

The company is now focusing on expanding its operations across Europe and has established a commercial team in Munich.  

Additionally, Wrisk has obtained the regulatory licences to operate in European markets, which will support both new client acquisition and the scaling of existing UK partnerships. 

Wrisk’s platform integrates real-time data from various sources, such as insurance records, vehicle information, financial transactions, and customer behaviour.  

The integration is facilitated by Wrisk’s proprietary embedded data framework, which has been developed for automotive original equipment manufacturers (OEMs).  

Looking ahead, the company aims to enhance data collaboration with OEMs, finance companies, and insurance partners to improve portfolio performance and offer more personalised customer experiences.