Transparent AI stirs insurtech: Akur8 aims to grow in the UK with $30M funding
French insurtech Akur8 is revolutionising insurance pricing with transparent AI. In a recent development, the company secured $30 million (nearly £21.4 million) in a Series B funding round from BlackFin Capital Partners and MTech Capital.
The investment round was closed less than two years after the P&C and health insurance pricing SaaS solution provider first commercialised its platform. It follows the Series A funding round raised by the company 15 months back from the same investors.
Notably, Akur8 operates in the UK and has offices in London. With this investment, it will focus on growing its presence in the country. Samuel Falmagne, co-founder and CEO of Akur8 said, “The fundraise will definitely contribute to the growth of our UK operations. We have a number of new hires in the pipeline to join our UK office and serve the UK market locally. It is a strategic market for us, especially sophisticated as far as insurance pricing is concerned with many regulatory changes under way that could impact insurance carriers’ pricing strategies, such as the price walking ban. We already have a number of clients in the UK and plan to expand our client base significantly.”
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