VCs in £15m round for Cuvva

Also investing were LocalGlobe, Techstars Ventures, Tekton Ventures and Seedcamp, as well as angel investors Dominic Burke (CEO of Jardine Lloyd Thompson) and Faisal Galaria (former chief strategy and investments officer of GoCompare).

The fresh capital will go towards building the headcount of the team to add engineers, developers, marketeers and customer operations staff.

The company recently launched its first product, where customers pay monthly for insurance.

Previous funding
Techstars invested £400,000 in the company in 2016. LocalGlobe then led a £1.5m seed funding round in 2017. Tekton, Techstars Ventures and Seedcamp also took part in the 2017 round, alongside angel investors Nick Hungerford, who founded Nutmeg, and Songkick founder Ian Hogarth.

Company
Cuvva offers pay-as-you-go motor insurance over its mobile app. The app also includes features such as MOT and tax reminders, and advice on where to buy the cheapest petrol. Based in London and founded in 2015, the company employs 80 people.

People
RTP Global – Anton Inshutin (managing partner).
Breega Capital – Ben Marrek (partner).
Digital Horizon – Alan Vaksman (founder, managing partner).
Cuvva – Freddy Macnamara (founder).

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