UK Insurtech Bondaval sequred £15 mn led by Dawn Capital

Insurtech Bondaval has sequred a £15 mn funding round from investors led by the seasoned investor Dawn Capital, who was an early backer of iZettle, Quantexa and Tink.

Bondaval is a UK-based insurtech company that leverages technology to innovate within the insurance sector

stablished to address gaps in traditional insurance offerings, Bondaval focuses on providing comprehensive and efficient solutions tailored to modern business needs.

The company operates in over thirty countries and maintains offices in key financial hubs, including London, New York, and Dallas.

UK Insurtech Bondaval sequred £15 mn led by Dawn Capital

Bondaval will use the new capital to establish a reinsurance vehicle named “Bondaval Re,” expanding its scope beyond its current role as a managing general agent (see Reinsurance Renewals at April 2024 by Regions).

Launching Bondaval Re will provide a scalable solution with which to support the company’s continued growth, as well as to prepare for further planned expansion

Ewa Rose, Chief Underwriting Officer at Bondaval

“By aligning risk closely with our stakeholders, we demonstrate our long-term investment, commitment to the business, and confidence in underwriting quality”.

Bondaval is recognized for its role as a managing general agent (MGA), which allows it to underwrite insurance policies and manage claims on behalf of insurers.

Bondaval has diversified its operations by launching a reinsurance vehicle named “Bondaval Re.”

UK Insurtech Bondaval sequred £15 mn led by Dawn Capital

This strategic move aims to strengthen its market presence and align risks more closely with stakeholders, enhancing its long-term investment appeal and demonstrating confidence in its underwriting capabilities.

The company’s innovative approach involves partnering with both reinsurers and insurers, expanding the market reach for its technology. This expansion is designed to increase the range of risks that can be effectively managed and protected, supporting the fast-growing global trade economy (see Global Reinsurance Market Report: Reinsurers’ Capital & Profitability).

Through the new reinsurance product, Bondaval will partner with both reinsurers and insurers expanding the market for its technology.

Dan Chaplin, partner a Dawn Capital

Bondaval is combining innovation at the insurance product level with a technology platform that enables greater transparency and granularity in underwriting

Dan Chaplin, partner a Dawn Capital

The new reinsurance product will allow Bondaval to collaborate with both reinsurers and insurers, thus expanding the market for its technology.

This initiative broadens the range of risks that can be protected and is expected to play a significant role in supporting the rapidly growing global trade economy.

Bondaval has attracted significant investment, including funding from Octopus Ventures, reflecting strong market confidence in its business model and growth potential.

Through its strategic initiatives and technological advancements, Bondaval continues to position itself as a key player in the evolving insurtech landscape.

Peter Sonner   by Peter Sonner