Wrisk, a provider of embedded insurance solutions to the automotive sector, today announced the successful closing of its Series B funding round, securing £12 million.
The round was co-led by Mundi Ventures and Opera Tech Ventures, the venture arm of BNP Paribas, both of whom will join Wrisk’s board of directors. Existing investors QBN and Volution also participated, reaffirming their support for the company’s long-term strategy.
Wrisk has built embedded insurance programmes for global automotive brands including BMW, MINI, Volvo, Mercedes-Benz, Jaguar Land Rover and Stellantis. In 2024, it recorded triple-digit revenue growth with more than 100,000 policies written last year.
Building on this foundation, Wrisk is expanding across Europe to meet growing demand for premium, branded, data-driven insurance as OEMs digitise customer journeys. With a commercial team in Munich and regulatory licences secured, the company is positioned to grow its presence across the region by supporting new clients and enabling existing UK partners to scale into European markets.
Nimeshh Patel, CEO of Wrisk, commented: “We have been at the forefront of shaping digital automotive insurance solutions. Our approach to innovation, with a focus on exceptional user experience, has attracted and retained globally recognisable partners, demonstrating the value in our propositions.
“It has also attracted significant investment interest, and we now welcome Mundi Ventures and Opera Tech Ventures to our board, firms that align with our strategic ambitions. This funding represents an endorsement of Wrisk’s vision, as we aim 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.”
This 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.
Rafaela Andrade, Partner at Mundi Ventures, remarked: “Our investment in Wrisk reflects our belief in their holistic approach to embedded insurance. The business has demonstrated a clear understanding of the evolving needs of automotive manufacturers, delivering effective insurance solutions that have brought market-leading scale. We are pleased to support Wrisk’s European expansion and their continued efforts to advance the opportunity of embedded insurance.”
Wrisk’s data capability is central to its proposition. The company’s proprietary embedded data framework has been developed specifically for automotive use cases, harmonising insurance, vehicle, financial and behavioural data to enable more personalised, scalable and intelligent insurance experiences.
Marinus Oosterbeek, Partner at Opera Tech Ventures, added: “Wrisk’s experience in digital insurance and their established partnerships resonated strongly with our investment philosophy. They have built a robust technology stack designed to facilitate seamless, data-driven insurance experiences. The integration of OEM, finance and insurance data for new services represents a forward-looking strategy that can unlock considerable value.”
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, one that is intelligent, connected, brand-aligned and seamlessly integrated across the entire vehicle ownership experience.
Read the orginal article: https://ffnews.com/newsarticle/funding/wrisk-closes-series-b-to-drive-innovation-and-expansion/
