Insurtech start up battleface has announced a new deal which will complete its seed funding efforts.
The firm will provide travel insurance products for unconventional travellers worldwide, utilising technology to drive operational efficiencies. It revealed Fintech Ventures Fund has invested in the company, joining existing investors Greenlight Re and Tangiers Group.
It said the investment will be used to expand software development, hire sales and business development personnel, and further the company’s global reach.
CEO Sasha Gainullin said: “We got our start because many travellers couldn’t find the right insurance products with coverage for their unique travel destinations and real needs.
“With the latest investment from Fintech Ventures Fund, we’ll continue to expand our B2B partnerships custom-building travel insurance solutions for groups, including business and NGO travellers, associations and membership-based organisations.”
Fintech Ventures Partner Lucas Timberlake said: “A core area of our fund’s investment thesis is that technology can be leveraged to more efficiently provide insurance products to markets that have been underserved by current offerings. We believe that battleface’s seasoned management team will create an industry leader in the travel insurance space. It is for these reasons that we are excited support the company’s future growth.”