UK based SaaS insurance broker platform PremFina raised a $36m equity and debt financing led by Rakuten Capital and Draper Espirit.
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Insurance tech firm PremFina raises $36 million in debt and equity funding
The new funds will be invested in developing its software product for insurance brokers and further internationalisation. PremFina operates a SaaS solution and funds the upfront payment of an insurance premium to an insurer and collects monthly instalments plus a fee from the insured party. “The participation of outstanding investors from Toronto to Tokyo in our oversubscribed round highlights the vast opportunity ahead for PremFina,” commented CEO Bundeep Singh Rangar, who invested in 17% of the equity portion of the round. “Our new investors bring great strategic value and priceless global financial relationships.”
