London-based InsurTech Loxa has raised £1.69 mn in seed funding to scale its retail-focused product protection platform.
Previously operating under the name Bolt Cover, the company enables retailers to offer repair-first insurance at checkout for items such as furniture, eyewear, and power tools.
The new funding will be used to complete its technology stack, expand integration capabilities with websites and EPOS systems, and enhance its direct-to-consumer upsell tools—starting with a power tool protection scheme.
Loxa aims to position itself as the leading B2B2C product protection provider in the UK by 2026. The firm plans to offer an alternative to traditional home insurance by focusing on item-specific coverage for consumer goods.
Founder Jamie Hamer said the raise allows Loxa to accelerate delivery of its retail protection ecosystem.
We’re rebuilding trust in repair-first insurance while creating measurable value for retailers. With the right investors onboard, we’re now set to push toward profitability
Jamie Hamer, Loxa Founder
Jamie is a proud Co-Founder of Loxa, and takes Total Ownership for creating a leading UK insurtech in Loxa. Previously, Jamie has been a sales leader and entrepreneur, having cofounded and exited React News – now Europe’s largest paid real estate news service – in 2022 after growing the team to more than 30 and over £10m of revenue.
Before that, Jamie provided exceptional sales results to industry giants such as Procter and Gamble, The Acuris Group and Gartner.
The round includes a £125,000 contribution from Angel Investment Network (AIN). Senior broker Alex Caparros noted that Loxa is filling a clear market gap.
Retailers need embedded protection that delivers value to customers without friction. Loxa offers a compelling model at the right moment.
Loxa’s approach aligns with the growing demand for sustainable and service-oriented insurance models. Its technology allows for quick deployment across retail channels, giving merchants an embedded insurance solution designed for everyday goods.
