The NZ$2.8m in capital will be used to finance the establishment of Simfuni Limited's platform in NZ
LegalVision has assisted insurtech startup Simfuni Limited with its Series A funding round.
Simfuni is expected to apply the NZ$2.8m in financing to the establishment of its insurance premium payment platform in New Zealand, with an eye on an Australia expansion this year.
“The round was rapidly filled, which reflects investor confidence in their insurance payments platform”, said LegalVision practice group leader Georgina Toomey, who headed up LegalVision’s team on the transaction.
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VC funds Icehouse Ventures and GD1 led the round in which K1W1 and NZVC were involved as well.
“We expect to scale up quickly with 100 brokers signed on by the end of this year. We needed the funds to do this, and turned to LegalVision because of their reputation in capital raising and working with startups”, Simfuni co-founder Shaun Quincey said.
He launched the insurtech company alongside Damon O’Neill.