Insurtech Lukango has closed a £275,000 pre-seed investment round for its insurance policies aimed at small businesses.
Lukango offers two products: “Fix” a set price plan and “Flex,” which charges based on the size of a business for a range of policies such as public liability, employers’ liability and product liability.
Joanne Safo, CEO and founder, said: “We set out to champion the underserved micro business community and change the face of the insurance industry and are incredibly proud to have the backing of experienced investors that truly believe in our vision.”
Backers in the Lukango pre-seed include the previous CEO of Bupa and board member of Admiral Group Evelyn Bourke, the founder and ex-CEO of Digital Partners Andrew Rear, and former senior advisor to the Nasdaq, Mark Hunt.
The London-based insurtech was founded last year by Safo. Before this, she previously worked as a director for Orisa Consultancy an insurance and technology consulting firm and at Digital Partners.
Safo added: “Our skills in the use of technology in the insurance industry and innate strategic, scaling and execution capabilities are significant assets on our journey to better serve today’s microbusiness owners.”
Health insurtech Peachy last month raised £1.5m for its app that gives access to private health services.