Wrisk raises £779,000, surpassing its crowdfunding target

Mobile InsurTech platform Wrisk has exceeded the £750,000 funding target on its latest crowdfunding campaign.

At the time of writing, the company has raised £779,565 on the Seedrs platform, but it is unclear whether the company has set a hardcap or will continue to raise equity. Wrisk raised the funds at a pre-money valuation of £13m.

The company has deployed a total of 5.64 per cent of its equity to the 742 investors participating in the crowdfund. Initially, the company’s £750,000 target offered a total of 5.44 per cent.

Just two weeks ago, FinTech Global reported the company had just surpassed the halfway mark of the crowdfund.

Prior to this funding, Wrisk raised £702,000 in a crowdfunding campaign in 2017 at a pre-money valuation of £7m. During the fundraise, the company significantly beat 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 policies 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.

Copyright © 2019 FinTech Global

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