UK-based FinTech Group Stubben Edge (the Company) today announced that it has received an additional investment of £5.6 million. This round was again oversubscribed and well received by existing and new shareholders, giving the company a pre-fund valuation of £175 million and a 75% increase over the funding round. before. This further demonstrates investor confidence in the Group, which has recorded revenue growth of more than 400% in 2022 and expects similar growth this year.
Since the last funding round in September 2022, the company has continued to execute an ambitious growth strategy, expanding and diversifying its offerings while capturing a larger market share in the value chain. insurance reflected in the acquisition of specialists in the insurance market in London and abroad. Helodrium, Joint Underwriting Management Company (MGU) Cedar Underwriting Company (both subject to regulatory approval) and brokerage distribution platform provider Insurercore, the acquisition has been announced to investors and shareholders in November 2022.
To date, Stubben Edge has raised more than £20 million. Platform investors include some of Lloyd’s names, including Nigel Wray, Dowgate Wealth, family offices, institutional investors, and other HNW investors.
“Amid the broader economic environment and loss of confidence in the FinTech market, this fundraising is a testament to the strength of our business.
In 2023, our ambition remains to support entrepreneurs and owners of brokers and IFAs. Help them grow their businesses by providing technology, data, and products that enable them to serve their SMB customers more efficiently and profitably, where and when their customers want to interact.
We continue to challenge the Financial Services industry, a slow adopter of technology which is both arbitrary and unbalanced. We believe that against the current economic environment, it is particularly important to empower brokers and IFAs to provide better value-for-money, security and confidence for customers and their families while building long-term business success.”
Chris Kenning, CEO of Stubben Edge.
“We were delighted to participate in Stubben Edge’s fundraise once again. The company’s phenomenal growth in 2022, in the current difficult economic climate, showcases that Stubben Edge has enormous growth potential. We believe that Lloyd’s and the insurance industry generally are ripe for disruption and reform and that Chris Kenning and the team at Stubben Edge are well-positioned with their strategy and products to take full advantage of the opportunity in 2023. We’re excited to see them execute their ambitious plans and look forward to continuing to work with them on their journey.”
David Poutney, Chief Executive of Dowgate Capital.