Sweden-based Insurello, an insurtech startup enabling its clients to receive a fair reimbursement from insurance corporations, has bagged US$ 17.3 million in a Venture investment round led by Nordstjernan Growth on 8 July 2021.

Investors: The Venture round featured Nordstjernan Growth as the lead investor with participation from current investors Schibsted and Inventure. The startup has, in total, raised US$ 29.1 million to date.

Purpose of the funding: The startup seeks to deploy the proceeds from the new investment round to finance its commenced international expansion and evolve its platform.

About Insurello

Insurello Logo

Founded in 2016 by Marcus Janback, Insurello’s platform aids people with the complete claims management procedure towards insurance companies. It is capable of sighting insurance policies that the person is unmindful of. The insurtech has been ranked amongst the top hundred leading insurtech corporates and has dealt with over 200,000 cases and obtained over 20 million euros in compensation for its clients in the face of a pandemic. Recently, the company launched in Denmark and France. Insurello intends to expand to different geographies as it envisages finding the proper compensation for all.

What the Founder has to say: “It is exhilarating to salute our new investor, Nordstjernan Growth. In association with our current pool of investors and the proficient team of Insurello, we are delighted to pursue expansion to new markets and verticals, to be able to meet our goal of ensuring justice to everyone.”- Marcus Janback, CEO and Founder of Insurello.

What the Investors have to say: “Insurello is the second firm backed by Nordstjernan’s latest diversification proposal, Nordstjernan Growth. The great potential of the Insurello team and the scalability of its operations attract us. We believe that the startup has the capability to expand its business in more countries and new verticals. As we see, Nordstjernan Growth would come out as a strong companion with Insurello in its existing development plans and for a long period.”- Peter Hofvenstam, CEO of Nordstjernan Growth. “Insurello is special for us. It’s been two years since we invested in the startup. The firm has shown constant signs of its incredible strength through its outcomes and satisfied consumers who get what they deserve. Marcus and the Insurello team also portray a great example of how a fintech combined with a tempting proposition is a great triumph. Hence, we are confident about our investment and look forward to supporting Insurello.” – Dan Ouchterlony, Head of Financial Services & Venture at Schibsted.

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Sankalp majorly focuses on writing newsletters on VCBay. He is pursuing Bachelors in Economics from the University of Delhi and exhibits proficiency in content writing and research.


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