This latest round will support INSHUR’s expansion across the US and Europe, solidifying its position as a leader in on-demand economy insurance.

Viola Growth’s General Partner, Natalie Refuah, will join INSHUR’s board of directors as Chairperson, contributing her expertise in scaling global companies. The funding round also saw participation from MS&AD Ventures and existing investors.

This investment will enable INSHUR to build on the momentum generated in 2023, which saw the company achieve 4x growth. A key driver of this expansion was INSHUR’s acquisition of American Business Insurance Services (ABI) in April, which significantly broadened its footprint in the US market. The company has also forged key partnerships with major on-demand platforms, including Uber and Amazon Flex.

The new funds will be used to scale operations in the US, strengthen relationships with platform partners, and expand its global team of insurance and technology professionals. INSHUR’s commitment to underwriting performance and developing new technology features has contributed to enhanced customer satisfaction and retention, as well as a market-leading loss ratio.

This funding round represents a strategic milestone for INSHUR as it continues to expand its presence in the on-demand economy and scale operations globally.

As part of its US expansion strategy, INSHUR has appointed industry veteran Bill Walrath as Director of US Markets. With over two decades of experience in insurance leadership, Walrath will oversee US operations, including reinsurance and carrier management. He previously served as Head of MGA/Reinsurance at Gateway and held senior roles during his 23 years at Farmers Insurance.