Inshur taps ex-investment banker as first CFO after ~4x growth in 2023
On-demand insurtech Inshur has appointed a former investment banker at Merrill Lynch as its first chief financial officer, after significantly expanding its US presence and driving nearly 4x growth in 2023.
Clayton Carol, formerly of Better and Merrill Lynch, will focus on the company's financial strategies and aligning resources to deliver on its growth objectives. This includes the company’s expansion across the US and further fundraising efforts following last year’s $26 million raise.
Inshur claims nearly 4x growth in 2023, supported by its acquisition of California-based specialty insurer American Business Insurance Services (ABI) in April. The acquisition expanded the insurtech's presence across the US and enhanced its offering for drivers and platform partners globally.
Carol’s areas of expertise include building high-performing teams, strategic business planning, board and investor relations, debt and equity financing, mergers and acquisitions, exit strategies, deal readiness, finance and operations, and budgeting.
Carol served as VP of finance at the fintech mortgage company Better, where he oversaw the finance team, established the FP&A programme, and raised debt and equity financing. Prior to his role at Better, Carol held the position of CFO at two earlier stage companies. He also has nearly 20 years of experience as an investment banker at Merrill Lynch and Lehman Brothers where he focused on originated and underwritten debt for leveraged buyouts and non-investment grade companies.
Dan Bratshpis, chief executive officer and co-founder of Inshur, said: "Clay's strong technical skill set, expertise in leading finance functions and impressive track record in both traditional financial institutions and fintech will be instrumental in driving Inshur forward as we continue to innovate and grow in 2024 and beyond. His proven leadership will be invaluable as we navigate future fundraising efforts and execute on our ambitious plans for Inshur.”
Carol said: "Following a truly transformative 2023, Inshur is poised for growth across geographies and products. I’m looking forward to supporting Inshur’s exceptional leadership team and the company’s ambitions in this exciting time in its journey.”
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