Embedded propositions provider secures £12m in funding round

Wrisk has secured £12m in a series B funding round.

The embedded propositions provider for the automotive sector said the funds would accelerate its expansion across Europe, deepen engagement with existing partners and support new partner acquisition.

It comes after the firm recorded triple-digit revenue growth in 2024, with more than 100,000 policies written by the end of the previous year.

Nimeshh Patel, chief executive at Wrisk, said: “We have been at the forefront of shaping digital automotive insurance solutions. Our approach to innovation, with a focus on exceptional user experience, has attracted and retained globally recognisable partners, demonstrating the value in our propositions.

“This funding represents an endorsement of Wrisk’s vision, as we aim to accelerate UK and European growth, enhance our data and intelligence capabilities and scale our partner programmes, transforming how insurers and automotive brands connect with their customers.”

Investors

The round was co-led by Mundi Ventures and Opera Tech Ventures, the venture arm of BNP Paribas, both of whom will join Wrisk’s board of directors.

Existing investors QBN and Volution also participated.

Rafaela Andrade, partner at Mundi Ventures, said: “Our investment in Wrisk reflects our belief in their sophisticated approach to embedded insurance. The business has demonstrated a clear understanding of the evolving needs of automotive manufacturers, delivering effective insurance solutions that have brought market-leading scale.

“We are pleased to support Wrisk’s European expansion and their continued efforts to advance the opportunity of embedded insurance.”

Marinus Oosterbeek, partner at Opera Tech Ventures, added: “Wrisk’s experience in digital insurance and their established partnerships resonated strongly with our investment philosophy.

“They have built a robust technology stack designed to facilitate seamless, data-driven insurance experiences. The integration of OEM, finance and insurance data for new services represents a forward-looking strategy that can unlock considerable value.”