Sir Peter Wood announce investment backing of sharing economy insurtech specialist Pikl as part of £2.5m funding round

Sharing economy insurance provider Pikl announces completion of a £2.5m Seed/Pre-Series A fund raise led by Sir Peter Wood, founder of Direct Line and esure.

Pikl, which was founded in 2016, has focused on working collaboratively with the insurance market to try and stimulate industry change to support users in the sharing economy. Its industry report published in March highlighted that the insurance needs of over 1 million short-term rental hosts are not being adequately accommodated by the UK’s major insurers. They are either being excluded from, compromised by or voided from their existing home insurance policies.

Pioneering insurance for the burgeoning sharing economy, Pikl has initially targeted the Airbnb market, developing products for sharing platforms, property managers and individuals – many of which are market firsts – and are sold both wholesale to the insurance market and directly to customers.

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