‘The priority is to ensure we deliver the best value for our shareholders and Cuvva,’ says chief executive
App-based motor insurer Cuvva has confirmed that it has hired investment bankers to explore a potential sale following a “record year of growth”, Insurance Times can reveal.
The London-headquartered insurtech has reportedly appointed advisory firm Perella Weinberg Partners to evaluate expressions of interest, after receiving what it described as “a significant amount of inbound interest” from potential buyers.
Perella Weinberg Partners declined to comment when approached.
However, in a statement issued to Insurance Times today (4 August 2025), Cuvva said: “Following Cuvva’s recently published 2024 financial results – highlighting a record year of growth, tripling profit – we’ve since received a significant amount of inbound interest.
“As such, for the best interest of our business and shareholders, we will be exploring these to see if we can find the right fit for our future ambitions and next stage of growth as Cuvva matures.”
Cuvva’s 2024 financial results showed adjusted profit tripled year-on-year to £12.8m, while turnover grew to £27.4m – a performance driven by customer retention and demand for short-term car insurance.
Freddy Macnamara, chief executive at Cuvva, said the firm’s success stemmed from the “exceptional platform” it had built.
He added: “Combined with cost discipline throughout 2024, we were able to scale efficiently while maintaining strong profitability.”
“Our core proprietary technology, built in-house, and our strong foundations give us the flexibility to adapt quickly. We can build and scale new products and automate things easily, continuously expanding to wider audiences with new offerings.
‘Consider all our options’
Founded in 2015, Cuvva has sold more than 13m short-term car insurance policies via its app and supported over 1.4m drivers. It claims around 7% of total UK private monthly motor insurance volume and says one in three drivers aged 21 to 29 have downloaded its app.
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The firm has raised £23m in venture capital to date from backers.
Sky News first reported on 1 August 2025 that a formal sale process was expected to launch in the coming months. However, Cuvva’s prospective valuation remains unclear.
Cuvva said it would “always consider all our options from interested parties” and emphasised that “the priority is to ensure we deliver the best value for our shareholders and Cuvva”.
Cuvva has been shortlisted for two awards at the Insurance Times Tech and Innovation Awards 2025, recognised in the categories of Best Use of AI and Best Use of Technology for Customer Experience.
The awards, which celebrate leading firms and initiatives in the insurance technology sector, will take place on September 18, 2025, at the Royal Lancaster London.
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