Pluto surges past its initial crowdfunding goal of £200k

Travel insurance startup Pluto has soared past the initial goal of its crowdfunding campaign, reaching £623,177 so far.

The capital raised has been supplied by around 861 individual investors, according to the Seedrs campaign page. For this crowdfund, Pluto has sold 23.75% of its shares to investors.

When launching the campaign, the company had planned to raise £200,000 with a total equity offering of 9.09%.

Pluto has a pre-money valuation of £2m.

FinTech Global previously reported on Pluto’s crowdfund last month after it had just moved past the £200,000 target.

The mobile-based travel insurance platform helps consumers get access to insurance within 10 minutes. Policies protect the traveller, their items and their trip, with a £10m medical cover, and the ability to add cover for gadgets, winter sports, adventure sports, and business trips.

Other payout limits include £3,000 for baggage, £3,000 for a cancelled trip, and £3,000 for heading home early.

One of the benefits offered by Pluto is that policyholders can access airport lounges if their flight is delayed.

Copyright © 2019 FinTech Global

Enjoying the stories?

Subscribe to our weekly InsurTech newsletter and get the latest industry news & research


The following investor(s) were tagged in this article.