Urban Jungle, a UK home insurance provider for renters and homeowners has announced £16.5m in series A funding, led by Intact Ventures. What has caught our eye however, is the investment from Ingka Group, IKEA’s parent company, hot on the heels of their recent incubator partnership programme with H&M – the Atelier100

Speaking on the investment, alongside the aforementioned Intact Ventures (and further investment from previous backers, Eka Ventures, Mundi and former Prudential UK CEO, Rob Davey), Krister Mattsson, Managing Director, Ingka Investments, said “they have developed an innovative solution with the potential to complement and disrupt the current insurance market and make insurance affordable for many more people.” 

Founded in 2016, with a focus on making insurance cheaper through its online-only services and AI tech for detecting fraud, founders Jimmy Williams and ex-Google developer Greg Smyth have now raised a total of £32m, following on from the £8m funding for the London-based insurtech back in June 2021.

Company  Individuals
Investor Links https://www.intactfc.com/English/intact-ventures/default.aspx  https://www.ingka.com/what-we-do/ingka-investments/  https://www.linkedin.com/in/justin-smith-lorenzetti/  https://www.linkedin.com/in/krister-mattsson/ 
Insurtech Links https://myurbanjungle.com/  https://www.linkedin.com/in/jimmy-williams-6b452312/  https://www.linkedin.com/in/greg-smyth-5b93bb2/ 

Source: https://www.uktech.news/insurtech/insurtech-urban-jungle-16m-20220525 

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