INSTANDA, a London-based customer and policy management platform for the insurance industry, has raised $19.5 million in new financing designed to accelerate an international expansion.
“Today’s fundraising announcement is an important milestone that will help us bring better insurance to more people and businesses around the world,” Tim Hardcastle, INSTANDA founder and CEO, said in prepared remarks.
Assembly Capital Partners led the Series A fundraising round, which will propel the startup’s further international expansion in the United States, Europe, Asia and Latin America.
INSTANDA describes itself as the insurance industry’s first no-code business platform, which allows insurers to overcome the drawbacks of legacy IT systems and embrace the benefits of digital transformation.
INSTANDA claims existing clients have reported seeing a return on investment within weeks through reduced operating costs, increased revenues, and the ability to respond efficiently to customer and broker needs with more personalized experiences at scale.
Already operating in 12 countries and with over 50 clients across all insurance lines and distribution channels, INSTANDA is now seeking to grow its international footprint, develop the platform further and expand its partner network.
Headquartered in the UK with offices in the U.S., Chile, Japan and Australia, INSTANDA works with carriers, MGA’s and brokers.
* A version of this story ran previously on our sister publication Insurance Journal.