InsurTech 100 company Wrisk surges past halfway mark for crowdfunding campaign

InsurTech 100 company Wrisk has surged past the halfway mark of its latest crowdfund, having pulled in up to £452,000.

The campaign is looking to raise a total of £750,000 with a total of 5.44 per cent of its equity available through the sale. It is not clear whether this figure is a hardcap.

At the time of writing, there have currently been 304 investors to contribute to the round, which is being held on the Seedrs platform. Wrisk is raising the money at a pre-money valuation of £13m.

Previously, the InsurTech raised £702,000 in a crowdfunding campaign in 2017 and was raised at a pre-money valuation of £7m. During the fundraise, the company surpassed its initial target of £500,00.

London-based Wrisk is an insurance app which helps consumers to better understand their risk scores and what is impacting their insurance premiums.

On top of that, users can take out insurance polices through the app, adding what they want to cover. Its aim is to give a single plan to consumers, letting them add or remove items whenever they need. Policies can cover, health, travel, vehicles, home and contents, among others.

Payments are automatically paid on a monthly-basis in a subscription style, letting holders pay for what they need to protect.

Late last year, Wrisk was hand-selected by a panel of experts for the debut InsurTech 100 list. The list is filled with the companies which all financial institutions and major players in the field need to know about.

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