The latest funding round, led by Eka Ventures, brings the total raised to £6.2 million and comes following a period of growth for the tech start-up, which now has over 20,000 customers and 22 staff
Urban Jungle is a technology enabled insurance provider on a mission to transform the £5 billion UK home insurance market. Urban Jungle is best known for its monthly contents insurance product that has been designed to serve the needs of renters.
The firm are taking a lead in solving their problems “to build an insurance brand which is fair and transparent to all customers, and has a positive impact on our shareholders, employees, community and environment.”
The disruptive insurer has gained further backing from venture capital and high profile private investors, despite a difficult funding environment.
Urban Jungle, founded by Jimmy Williams and Greg Smyth in 2016, provides insurance to ‘Generation Rent’ and Millennials, intends to shake up the sector.
The company’s plans for growth are backed by experienced entrepreneurs and investors, including former Prudential CEO Rob Devey, Octopus Group CEO Simon Rogerson and Funding Circle co-founder James Meekings. Devey will also join the company’s board as a non-executive director.
CEO Jimmy Williams commented:
“We are still focused on growth, despite the pandemic, and will be using this funding to bring in more operational staff and expand our reach”
Richard Hall, CEO and Founder of CloudOrigin, led the Technology and Operational Due Diligence on behalf of EKA Ventures. “We were delighted to work with EKA on their very first investment. Urban Jungle is an incredible example of a very focused firm, identifying a market opportunity and using their tech platform and data insights to drive phenomenal growth and customer satisfaction”.
For more information on this and subsequent investment rounds at Urban Jungle see their blog post [ Click here ]
For further information see EKA Ventures blog [Link] and industry reporting by UK Tech News [Link]