Send will use the fresh capital to speed up its growth in the UK and US. Credit: Towfiqu barbhuiya on Unsplash

British insurtech Send Technology Solutions has raised £9m in a Series A funding round led by venture capital firm Breega.

Specialist asset manager Mercia, who also joined the fundraise, along with Breega have picked stakes in Send as part of the deal.

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Besides, Breega VC principal Maxence Drummond has secured a seat on the Send board.

Drummond noted: “To date, Send has the most reliable and user-friendly solution in the underwriting workbench market. Send is paving the way for a more agile industry, helping insurers, reinsurers and MGAs to transform traditional practices.

“At Breega, we strongly believe in their potential to become a global category leader in this space.”

Send will use the fresh capital to speed up its growth in the UK and US.

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It will also utilise the infusion to develop its product portfolio and expand its employee headcount.

Send co-founder and CEO Andy Moss said: “We believe we have the most advanced underwriting workbench on the market and want to retain our first-mover advantage.

“To do this, we need to scale up, both in the markets in which we currently operate in, and in new ones. We want to enable more partner-led growth and delivery as well as bring in exceptional and diverse talent.” 

Based in London, Send offers a SaaS underwriting workbench designed to streamline and automate underwriting operations.

Designed for the commercial and specialty markets, the composable platform offers teams a single platform to new handle new business, endorsements, as well as renewals.

It is said to process more than £3.5bn in GWP per year.