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Fruga raises £1m to reduce insurance costs for policyholders. The Manchester-based InsurTech plans to expand its platform and hire more staff with this funding.
Amount Raised
£1 Million
Round Type
Seed
OttawaSoftwareArtificial IntelligenceInvestors
Description
Fruga has secured £1m in funding to enhance its InsurTech platform aimed at helping consumers lower insurance renewal costs. Backed by NPIF II – PXN Equity Finance and Haatch, the company plans to expand its team and client base. The platform rewards policyholders through open banking by generating 'insurance credits' from everyday purchases. This innovative approach aims to build a fund to offset insurance bills for consumers.
Fundz sees it the moment Frugal AI raises, hires an exec or expands, usually minutes after it happens, and tells you who to reach.
Related People
Frugal AI raised. Fundz records a round at a median of 3.6 minutes from the SEC filing, with the decision-maker attached.
145 of these a day, filtered to the companies you pick, with the decision-maker attached.
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