Wrisk Lands £12m Series B for Automotive Insurance Expansion
Wrisk has closed a £12m (US$16.3m) Series B funding round to accelerate its expansion across European markets and enhance its embedded insurance platform for automotive manufacturers.
The round was co-led by Mundi Ventures and Opera Tech Ventures, the venture capital arm of BNP Paribas. Both firms will join Wrisk's board of directors. Existing investors QBN and Volution participated in the round.
The London-based company provides embedded insurance solutions to automotive brands including BMW, MINI, Volvo, Mercedes-Benz, Jaguar Land Rover and Stellantis.
Wrisk recorded triple-digit revenue growth in 2024 and wrote more than 100,000 policies during the year.
European expansion accelerates
Wrisk plans to use the funding to expand its operations across Europe, where it has established a commercial team in Munich and secured regulatory licences.
The company aims to support new clients whilst enabling existing UK partners to scale into European markets.
The funding marks a strategic milestone for Wrisk, unlocking the next phase of growth. It will accelerate the company's expansion across Europe, deepen engagement with existing partners, and support new partner acquisition.
CEO Nimeshh Patel says the company has been "at the forefront of shaping digital automotive insurance solutions".
He adds that the firm's approach to innovation has "attracted and retained globally recognisable partners, demonstrating the value in our propositions".
Patel says the investment represents "an endorsement of Wrisk's vision" as the company aims to "accelerate UK and European growth, enhance our data and intelligence capabilities, and scale our partner programmes, transforming how insurers and automotive brands connect with their customers".
Data capabilities drive proposition
The funding will support the development of Wrisk's data and intelligence capabilities, which the company says are central to its proposition.
The firm has developed a proprietary embedded data framework that harmonises insurance, vehicle, financial and behavioural data to enable personalised insurance experiences.
The company's data capability has been developed specifically for automotive use cases. This enables more personalised, scalable and intelligent insurance experiences as original equipment manufacturers digitise customer journeys.
Rafaela Andrade, Partner at Mundi Ventures, says the investment reflects the firm's belief in Wrisk's "holistic approach to embedded insurance".
She adds that the business has demonstrated "a clear understanding of the evolving needs of automotive manufacturers, delivering effective insurance solutions that have brought market-leading scale".
Andrade says Mundi Ventures is "pleased to support Wrisk's European expansion and their continued efforts to advance the opportunity of embedded insurance".
Wrisk's technology platform is designed to facilitate integration between OEM systems, finance providers and insurance carriers. The integration of OEM, finance and insurance data enables new services across the automotive ecosystem.
With strong investor backing, trusted partnerships with leading automotive brands, and a platform designed to evolve with the industry, Wrisk is strategically placed to lead the next chapter of embedded insurance across the vehicle ownership experience.
Marinus Oosterbeek, partner at Opera Tech Ventures, says Wrisk's experience in digital insurance and established partnerships "resonated strongly" with the firm's investment philosophy.
He adds that the company has built "a robust technology stack designed to facilitate seamless, data-driven insurance experiences" and that the "integration of OEM, finance and insurance data for new services represents a forward-looking strategy that can unlock considerable value".
