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Birmingham Post
Birmingham Post
Business
Sion Barry

Car insurance finetch start up Driverly boosted with six-figure pre-seed investment round

Insurance Development Bank Development Bank of Wales Cardiff

Cardiff-based subscription-based car insurance fintech, Driverly, has been boosted with a significant six-figure pre-seed investment round.

The Development Bank of Wales has invested £250,000 in equity into the start-up as part of a £525,000 pre-seed investment round that also involved serial entrepreneur Manuel Santiago as an angel investor, and Duncan Russell, a former chief finance office at Admiral Financial Services.

Driverly’s service tracks users’ driving, with new subscribers downloading the Driverly app and taking an initial test drive to provide data on their driving habits.

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