London-based InsurTech startup, Wrisk, has successfully closed its Series B funding round, securing £12 million to accelerate growth and drive European expansion. The embedded insurance technology platform, which specialises in automotive sector solutions, has established partnerships with major vehicle manufacturers including BMW, Mercedes-Benz, and Jaguar Land Rover.
The funding round was co-led by Mundi Ventures and Opera Tech Ventures, the venture arm of BNP Paribas. Both firms will join Wrisk’s board of directors as part of the investment. Existing investors QBN and Volution also participated in the round.
Founded in 2016, Wrisk has built a data-driven platform designed specifically for automotive brands to deliver embedded and branded insurance experiences across the complete ownership lifecycle. The company powers insurance programmes for BMW, MINI, Volvo, Mercedes-Benz, Jaguar Land Rover, and Stellantis.
Strong Commercial Performance Drives Investment
Wrisk’s commercial momentum contributed to triple-digit revenue growth in 2024, with more than 100,000 policies written during the year. This performance has positioned the company for its next phase of international expansion.
Nimeshh Patel, CEO of Wrisk, said:
“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.”
“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.”
European Expansion Strategy
Building on its UK success, Wrisk is expanding across Europe to meet growing demand for premium, branded, data-driven insurance as OEMs digitalise customer journeys. The company has established a commercial team in Munich and secured regulatory licences, positioning it to grow its presence across the region by supporting new clients and enabling existing UK partners to scale into European markets.
The investment will support deepening engagement with existing partners alongside new partner acquisition as the automotive industry undergoes significant transformation through electrification, connected vehicles, changing ownership models, and autonomous technology development.
Investor Confidence in Embedded Insurance
Rafaela Andrade, Partner at Mundi Ventures, explained the investment rationale:
“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.”
Marinus Oosterbeek, Managing 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.”
James Codling, Managing Partner at existing investor Volution, noted: “Since our initial investment in December 2023, the team has delivered impressive progress, combining clear strategic focus with strong commercial traction. Wrisk is redefining how insurance is delivered, and we’re proud to support them as they enter this next stage of growth.”
Technology and Data Capabilities
At the core of Wrisk’s offering is its proprietary embedded data framework, developed specifically for automotive OEMs to harmonise inputs across connected car systems, telematics, transactional records, and customer interactions. The platform brings together real-time insights from insurance, vehicle, financial, and behavioural data to support decision making across pricing, claims, and customer engagement.
Looking ahead, Wrisk plans to focus on expanding its international footprint while continuing to invest in data, intelligence, and platform scalability. A major priority includes enriching data across OEM, finance, and insurance partners to enable deeper insights, personalised engagement, and enhanced portfolio performance.
The company’s long-term vision positions it to become the embedded insurance partner of choice for the global automotive industry as the sector continues its digital transformation.
