Konsileo Raises £8M for UK Expansion
Deal News | Nov 20, 2024 | Business Cloud
Konsileo, an InsurTech company specializing in mid-market advised sales for various sectors like construction and logistics, has successfully raised £8 million to bolster its expansion in the UK. Known for its innovative approach to commercial insurance broking, Konsileo has replaced conventional middle management with structures that support self-management and collaboration among brokers. This strategy has fueled significant growth, increasing its size by two-thirds within a year and handling £60 million Gross Written Premium on a run-rate basis. The financial injection comes through a combination of debt and equity financing, led primarily by long-term supporter Committed Capital, alongside ACF Investors and Growth Lending. John Warburton, co-founder and CEO, stated that this investment will further enhance their operations and attract top-tier talent. Steve Harris, CEO of Committed Capital, praised Konsileo for achieving substantial growth without compromising its cultural values, indicating strong revenue prospects for the future.
Sectors
- InsurTech
- Finance
Geography
- United Kingdom – Konsileo is expanding across the UK, and all funding activities described are aimed at enhancing their operations within this geographic market.
Industry
- InsurTech – Konsileo operates within the InsurTech space, which involves the use of technology to innovate and improve aspects of the insurance sector. Their focus on efficient, modern broking solutions exemplifies this industry's role.
- Finance – The involvement of debt and equity financing to support Konsileo's growth ties the article to the finance sector, emphasizing the financial strategies and stakeholders engaged in the funding process.
Financials
- £8 million – The total amount raised by Konsileo in the funding round for expansion.
- £60 million – The Gross Written Premium (GWP) Konsileo manages on a run-rate basis.
- £12 million – The current brokerage size of Konsileo after the recent growth.
- £550,000 – Amount raised by Artio, as briefly mentioned alongside the main article about Konsileo.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Konsileo | Target Company | Company | An InsurTech firm specializing in mid-market advise sales that has raised £8M for UK expansion. |
| Committed Capital | Investor | Company | A long-term shareholder leading the £8M funding round for Konsileo. |
| ACF Investors | Investor | Company | Along with Committed Capital, ACF Investors participated in the funding round for Konsileo. |
| Growth Lending | Investor | Company | A specialist growth finance provider that participated in the funding round for Konsileo. |
| John Warburton | CEO | Person | Co-founder and CEO of Konsileo, responsible for strategic growth and operations. |
| Steve Harris | CEO | Person | CEO of Committed Capital, commented on the growth and prospects of Konsileo. |