Specialty travel insurance provider battleface has netted $12m in its Series A funding round, which was supplied by US-based venture firm Drive Capital.
The capital injection will support the InsurTech’s growth, market expansion and the establishment of its global headquarters in Columbus. It will also enable it to focus on expanding its B2B2C partnerships with custom built products for partners, as well as expand its B2C digital offerings in additional markets.
This funding round comes after a strong year of growth for the company, it claims.
battleface closed its seed round at the start of the year, with investments coming from Greenlight Re Innovations and Fintech Ventures Fund. This capital enabled the company to solidify operations and establish platforms and insurance-carrier relationships.
The InsurTech offers specialty travel insurance for retail and wholesale customers, with policies including 24/7 emergency travel, and crisis and medical assistance. Other protections include baggage loss or delay, business extension and equipment, medical expenses, money and passport loss, personal accident, personal liability, trip cancellation, war and terrorism, medical evacuation and more.
battleface CEO Sasha Gainullin said “When we started battleface, we set out to make travel insurance relevant to our customers, simple to buy and accessible for everyone in the world. Our growth since then has significantly surpassed our initial expectations, and this funding will help us bring travel insurance to millions more as we continue to build our traveller focused global insurance platform.
“With this latest investment from Drive Capital, we look forward to accelerating our growth strategy through new product development and expanded market reach.”
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