New internet business-to-business outfit, Xelector, has secured a £110m valuation in its second round of funding. The company has secured backing from a number of blue-chip firms including CGU, Morgan Stanley Dean Witter and the Overseas Union Bank.
Xelector's Chief executive, Jussi Laurimaa said the news demonstrated that business-to-business internet stocks are still valuable.
He said: "Today's announcement just goes to show that, despite the hype, a solid business concept with a demonstrable path to profitability can still attract the valuation it deserves."
Xelector will provide a financial services platform for companies seeking to enter the market, or to existing players seeking to develop their own internet presence.
The 2025 Insurance Times Awards took place on the evening of Wednesday 3rd December in the iconic Great Room of London’s Grosvenor House.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
Many congratulations to all the worthy winners and as always, huge thanks to our sponsors for their support and our judges for their expertise.
