London-based InsurTech startup Wrisk secured €13.9 million in a Series B funding round. Mundi Ventures and Opera Tech Ventures co-led this investment. Wrisk specializes in an embedded vehicle insurance platform for the automotive OEM sector.
The company provides a data-driven platform. This platform enables automotive brands to deliver branded insurance experiences.
Accelerating Embedded Insurance Growth
Wrisk aims to accelerate its UK and European expansion. Furthermore, the company plans to enhance its data and intelligence capabilities. Wrisk also intends to scale its partner programs. This FinTech funding supports its strategic vision.
The platform powers insurance programs for major brands, including BMW, MINI, Volvo, and Mercedes-Benz. This contributed to triple-digit revenue growth in 2024. Over 100,000 policies were written last year.
Wrisk's data capability integrates real-time insights from insurance, vehicle, financial, and behavioral data. Its proprietary embedded data framework harmonizes inputs from connected car systems and telematics. This allows for smarter decision-making in pricing and claims.
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Major structural shifts, such as vehicle electrification and connected car development, reshape mobility and automotive technology. Consequently, the role of insurance evolves. Wrisk addresses these changes, similar to how Cover Genius offers broad embedded solutions or Root Insurance focuses on telematics-driven auto policies.
Wrisk's long-term vision is to become the embedded insurance partner of choice for the global automotive industry. This strengthens the InsurTech startups landscape.
