INSTANDA, a London, UK-based provider of a no-code core insurance platform, announced that it raised $45 million in a Series B funding.
The round was led by Toscafund, one of Europe’s leading Growth Equity investment firms for financial services companies, with the participation of existing investor Dale Ventures.
The funds will be used to grow the company’s geographical presence in Europe, the US, Japan, and the UAE, as well as to rapidly augment platform capabilities including developing the existing ecosystem into a future-proofed marketplace.
Company: F2X GROUP LIMITED
Round: Series B
Funding Month: June 2022
Lead Investors: Toscafund
Additional Investors: Dale Ventures
Company Website: https://instanda.com/
Software Category: SaaS-based digital insurance solution
About the Company: INSTANDA is the Insurance Industry’s first no-code core insurance platform and allows insurers to break into new markets as well as overcome the drawbacks of legacy IT systems and embrace the benefits of digital transformation. INSTANDA is a SaaS-based digital insurance solution that enables carriers and Managing General Agents (MGAs) to design, build and launch insurance products across the Property and Casualty and Life and Health categories. The INSTANDA platform enables carriers and MGAs to create, build and implement complex insurance products in a matter of weeks or months. Capitalize on opportunities and be first to market, all while lowering overall TCO. Seamlessly integrate with your ecosystem and technology environment. INSTANDA works with the leading carriers, MGAs, and brokers in Europe, North America, the UK, Japan, LATAM, Africa, the Middle East, and Australia.