London-based insurtech Humn secures £10.1M funding to enable real-time fleet insurance

As per a report, there are over 31.5 million cars registered in the UK, in 2018. The insurance industry also paid out over £13.4 billion in claims back in 2017, which goes to show how crucial vehicle insurance is. Helping companies save money, the London-based insurtech Humn offers real-time data-driven fleet insurance. The startup has now secured £10.1M funding in its series A funding round. 

This latest funding round for Humn was led by notable names such as BXR Group and Shell Ventures. Additionally, Hambro Perks Leaders Fund and Woodside Holdings also participated in the round. In a conversation with UKTN, the company’s CEO Mark Musson reveals that the fresh funds will be utilised to boost their teams by hiring people across commercial functions, sales, marketing and customer success. 

“We are investing in our underwriting and compliance teams as well. As always, we are adding the brightest minds we can find in our engineering and data science departments,”   Musson notes. Furthermore, he tells us that the company will be building out its European operations and adding core country teams in the Netherlands and Germany, initially with a phased entry in Spain and France. 

Amory Poulden, Venture Principal at Shell Ventures, investor and Board Director Humn comments, “In a sector dominated by opaque and siloed offerings, Humn is rapidly establishing itself as the transparent, fair and flexible option for the modern fleet. Since our initial investment, we have been continually impressed with the whole team’s clarity of vision and speed of execution. We are excited to deepen our commitment to helping Humn become the market leader for commercial fleet insurance.”

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