Driverly Secures Investment from the Development Bank of Wales

Driverly, a Cardiff-based InsurTech startup, recently completed a six-figure funding round, drawing support from the Development Bank of Wales, Angels Invest Wales, and other notable Welsh investors. Originally launched to assist young drivers in obtaining insurance, Driverly has pivoted to a B2B model, offering an adaptable, data-driven platform to insurance companies. This funding round builds on earlier support of £250,000 in equity during a pre-seed round in 2022. Investors are optimistic about Driverly's potential, citing their successful business model transition and the experienced team. The new investment aims to expand Driverly's customer base and enhance its technology.