LocalGlobe and Pentech lead £1.9m round for FloodFlash

Insurtech-focused incubator InsurTech Gateway also took part in the funding round.

The business is currently carrying out a live pilot with a group of SMEs located in areas of the UK with significant flood risk. It is preparing for an official launch in October 2018 and will look to double its current headcount of five employees within the next six months.

Company
Founded in 2017 and headquartered in London, FloodFlash provides flood insurance, including to clients located in areas that are at high risk of flooding. The company uses internet-connected water sensors to determine when to automatically pay out pre-agreed fixed sums. The policies themselves are currently provided by Everest Re.

People
LocalGlobe – Tara Reeves (partner).
Pentech Ventures – Eddie Anderson (partner).
FloodFlash – Adam Rimmer, Ian Bartholomew (co-founders).

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