London-based InsurTech Wrisk raises £12 million in Series B funding led by Mundi Ventures and Opera Tech Ventures, supporting rapid European growth and a 219% revenue increase in H1 2024. The company aims to deepen partnerships with major automotive brands and enhance embedded insurance solutions across new markets.
London-based InsurTech firm Wrisk has raised £12 million in a Series B funding round, marking a significant step in its ambitions to expand across Europe and deepen its footprint in the automotive insurance sector. The company, which has secured partnerships with notable automotive brands such as BMW, Mercedes-Benz, Jaguar Land Rover, Volvo, MINI, and Stellantis, announced the funding as it recorded triple-digit revenue growth in 2024, writing over 100,000 policies to date.
Co-led by Mundi Ventures and Opera Tech Ventures—the venture capital arm of BNP Paribas—this funding round brings new strategic investors onto Wrisk’s board, including key representatives from the lead firms. Existing backers such as QBN and Volution also participated, reaffirming their confidence in Wrisk’s trajectory. The new capital will support the company’s push into European markets, where it already has a commercial team based in Munich and holds the necessary regulatory licences. Wrisk plans to use the funding to enhance its data and intelligence capabilities, accelerate partner programme growth, and back new and existing partners in scaling their operations across the continent.
Wrisk’s expansion into Europe has been accompanied by a clear organisational and strategic overhaul. The company has opened offices in Vienna and Munich, with experienced industry figures like Stephan Ruby appointed as European Managing Director. This regional leadership team, along with an advisory board comprised of seasoned professionals, is charged with replicating the firm’s domestic successes on a broader European stage. Such moves underscore Wrisk’s commitment to embedding its digital insurance solutions deeply into the automotive ecosystem, where it facilitates everything from quoting and binding to renewals and claims within a seamless digital journey.
Financially, Wrisk is demonstrating remarkable momentum. In the first half of 2024 alone, the firm reported a staggering 219% year-on-year revenue growth and an annualised gross written premium exceeding £60 million. Key new partnerships with Volvo and Jaguar Land Rover have strengthened Wrisk’s client base, adding to longstanding collaborations with BMW and MINI. This performance reflects strategic enhancements to its platform and a 40% increase in UK headcount this year, including pivotal hires such as Anthony Foster as Director of Insurance and Dr. Mark Lee as Director of Pricing and Actuarial Services.
Speaking about the funding and expansion, Wrisk’s CEO Nimeshh Patel emphasised the company’s focus on innovation and customer experience. “Our approach to innovation, with a focus on exceptional user experience, has attracted and retained globally recognisable partners, demonstrating the value in our propositions,” he said. Patel views this funding as a validation of Wrisk’s vision to transform how insurers and automotive brands connect with their customers, particularly through embedded insurance solutions tailored for the digital age.
Rafaela Andrade, partner at Mundi Ventures, echoed this optimism, highlighting Wrisk’s deep understanding of automotive manufacturers’ evolving needs. “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,” Andrade remarked.
As Wrisk pursues its European ambitions, the company is positioning itself as a leader in the embedded insurance space by leveraging strong funding, strategic hires, and regulatory preparedness. Its ability to scale premium, branded, and data-driven insurance solutions promises to reshape how automotive insurance is integrated into the broader ownership experience across multiple markets.
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Source: Noah Wire Services
- https://businesscloud.co.uk/news/12m-funding-reduces-wrisk-for-insurtech-as-it-expands-into-eu/ – Please view link – unable to able to access data
- https://businesscloud.co.uk/news/12m-funding-reduces-wrisk-for-insurtech-as-it-expands-into-eu/ – London-based InsurTech Wrisk has secured £12 million in a Series B funding round to support its European expansion. The company, which provides embedded insurance solutions to the automotive sector, has established partnerships with major automotive brands, 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 of whom will join Wrisk’s board of directors. With a commercial team in Munich and regulatory licences secured, Wrisk aims to grow its presence across Europe by supporting new clients and enabling existing UK partners to scale into European markets.
- https://www.wrisk.co/blog/london-insurtech-wrisk-announce-growth-of-219-percent-yoy-in-h1-2024 – In the first half of 2024, London-based InsurTech Wrisk reported a 219% year-on-year revenue growth, achieving over £60 million in annualised gross written premium. The company attributes this growth to new partnerships with Volvo and Jaguar Land Rover, joining existing clients such as BMW and MINI. Wrisk has also made strategic enhancements to its platform and processes, laying strong foundations for global growth. The company has expanded its team by 30 hires, increasing its UK headcount by over 40% in 2024, with key appointments including Anthony Foster as Director of Insurance and Dr. Mark Lee as Director of Pricing and Actuarial Services.
- https://b2bdaily.com/fintech/can-wrisks-strategic-moves-propel-it-to-insurtech-market-dominance/ – Wrisk’s expansion into the European market is a significant component of its growth strategy. In late 2023, the company opened new offices in Vienna and Munich, appointing Stephan Ruby as European Managing Director. The European regional management team, comprising industry veterans like Alexandre Pereira and Andreas Schaeffler, is tasked with spearheading growth across the continent. The formation of an advisory board consisting of experienced industry professionals further accentuates Wrisk’s readiness to cement its presence in Europe. These strategic moves aim to replicate the company’s domestic success on an international scale.
- https://insurance-edge.net/2025/07/08/wrisk-closes-on-series-b-round-worth-12m/ – Wrisk, a provider of embedded insurance solutions to the automotive sector, has successfully closed 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.
- https://www.lifeinsuranceinternational.com/news/wrisk-12m-series-b/ – UK-based insurtech company Wrisk has closed a £12 million ($16.3 million) Series B funding round to support its strategic vision and drive expansion. The funding round was co-led by Mundi Ventures, Opera Tech Ventures, and BNP Paribas’ venture capital arm, with participation from existing investors QBN and Volution. Both entities will take up positions on Wrisk’s board of directors following their investment. Wrisk’s data-driven platform, designed for automotive brands, enables embedded and branded insurance experiences across the entire ownership lifecycle, from quoting and binding to renewals and claims, all within a streamlined digital journey.
- https://insurtechanalyst.com/2024/07/23/london-based-insurtech-wrisk-sees-remarkable-219-yoy-revenue-growth-in-h1/ – London-based InsurTech, Wrisk, has announced a 219% year-on-year revenue growth in H1 2024. The company, known for its independent embedded insurance technology platform catering to the automotive OEM sector, raised its annualised gross written premium to over £60 million, and its annualised revenue run rate tripled year-on-year. These impressive figures were largely fueled by new partnerships with major automotive players Volvo and Jaguar Land Rover, which join Wrisk’s existing clients such as BMW and Mini. The company is well-positioned to surpass its 2024 financial targets across Europe.
Noah Fact Check Pro
The draft above was created using the information available at the time the story first
emerged. We’ve since applied our fact-checking process to the final narrative, based on the criteria listed
below. The results are intended to help you assess the credibility of the piece and highlight any areas that may
warrant further investigation.
Freshness check
Score:
8
Notes:
The narrative is recent, dated July 9, 2025. The £12 million funding round was announced on July 8, 2025, with earlier reports from July 8, 2025, indicating the news was first published on that date. The report includes updated data on Wrisk’s expansion into Europe, which may justify a higher freshness score but should still be flagged. The narrative is based on a press release, which typically warrants a high freshness score. However, the presence of similar content across multiple outlets suggests potential recycling of information. The earliest known publication date of substantially similar content is July 8, 2025. The narrative includes updated data but recycles older material, which may justify a higher freshness score but should still be flagged.
Quotes check
Score:
9
Notes:
The direct quotes from Wrisk’s CEO Nimeshh Patel and Mundi Ventures’ partner Rafaela Andrade appear to be original, with no identical matches found in earlier material. This suggests potentially original or exclusive content.
Source reliability
Score:
7
Notes:
The narrative originates from BusinessCloud, a UK-based news outlet. While it is a known source, it is not as widely recognised as major outlets like the BBC or Reuters. The report includes direct quotes from Wrisk’s CEO and Mundi Ventures’ partner, which adds credibility. However, the presence of similar content across multiple outlets suggests potential recycling of information.
Plausability check
Score:
8
Notes:
The claims about Wrisk’s £12 million funding round and European expansion are plausible and align with previous reports. The narrative includes specific details about the funding round, strategic hires, and expansion plans, which are consistent with Wrisk’s recent activities. The tone and language used are consistent with typical corporate communications.
Overall assessment
Verdict (FAIL, OPEN, PASS): OPEN
Confidence (LOW, MEDIUM, HIGH): MEDIUM
Summary:
The narrative is recent and includes direct quotes from key stakeholders, suggesting originality. However, the presence of similar content across multiple outlets and the reliance on a press release indicate potential recycling of information. The source is moderately reliable, and the claims made are plausible and consistent with Wrisk’s recent activities. Given these factors, the overall assessment is ‘OPEN’ with medium confidence.
