FTV leads £78m round in Bought By Many

The firm is currently deploying from FTV V, which closed on $850m in September 2016. It also announced FTV VI in September 2019, with a target of $1bn, which has yet to hold a close. The company's existing shareholders also contributed to this investment.

The funding will be used to hire more employees and invest in products, as well as expand in overseas markets.

Previous funding
In January 2017, Octopus Ventures and Munich Re Ventures participated in a £7.5m funding round.

Upscale participated in a funding round of an undisclosed amount in January 2018. Later that year, CommerzVentures led a £20m round. Octopus, Munich Re and business angels Evelyn Bourke and Crispin Odey also participated.

Company
Based in London and founded in 2012, Bought By Many acts as an insurance broker, mainly in pet insurance.

People
Bought By Many – Steven Mendel (CEO).

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• Topics
• Expansion
• UK / Ireland
• Financials
• Venture
• United Kingdom