London-based insurtech incubator Insurtech Gateway is set to debut its operations in Australia to enable insurtech start-ups use its platform to design and build their business.
The expansion follows completion of its first fundraising in June this year during which the company raised £30m.
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Its Australian operations with support from private equity investor Envest will be managed by newly appointed company CEO Simon O’Dell.
The Insurtech Gateway Australia incubator platform in collaboration with early stage start-ups will provide pre-seed funding as well as access to local and global markets via a 12-week programme and on-going support.
Insurtech Gateway co-founder Stephen Brittain said: “We share a belief that high-scale insurtech businesses will come from Australia.”
“We’re trying to keep up with the ambition of a country that thinks globally from day one and was the home of start-ups like Trov, Atlassian and Xero.
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By GlobalData“The Gateway will connect Australian entrepreneurs with a global network of ambitious founders and investors. This is just the beginning; we’re going to expand into Asia and other key international markets.”
Partners selected by Insurtech Gateway will be able to access to Envest and the recently launched Gateway Fund, which has already invested £2.25m ($4m) in four start-ups.
Insurtech Gateway, which was founded in 2017, is also looking to partner firms in Asia, North America and Central Europe.
