Greenlight Re-backed travel insurtech Battleface gains $12m funding for expansion

Travel insurtech start-up battleface has secured $12 million in its Series A funding round from Columbus-based Drive Capital to accelerate its global expansion plans.

The raise follows a seed round with investments from Greenlight Re Innovations and Fintech Ventures Fund, which enabled the start-up to solidify operations and establish platforms and insurance-carrier relationships that helped to build the overall business.

Battleface plans to use the new investment to fund growth and market expansion, as well as establish its global headquarters in Columbus’ tech hub.

The Series A funding will also allow battleface to focus on expanding both B2B2C partnerships with custom built products for partners and expand their B2C digital offerings in additional markets.

The company is led by CEO Sasha Gainullin, who previously developed global operations for AIG Travel Guard, and managing director Paul Simmonds, who has experience as a Lloyd’s of London underwriter with previous leadership roles at Berkley Syndicate, CNA Hardy, Brit, and Goshawk.

Battleface's travel insurance products are underwritten by certain Lloyd’s underwriters, Spinnaker Insurance and Crum & Forster SPC.

Gainullin said: “When we started battleface, we set out to make travel insurance relevant to our customers, simple to buy and accessible for everyone in the world. Our growth since then has significantly surpassed our initial expectations, and this funding will help us bring travel insurance to millions more as we continue to build our traveller focused global insurance platform.

“With this latest investment from Drive Capital, we look forward to accelerating our growth strategy through new product development and expanded market reach.”

Molly Bonakdarpour, partner of Drive Capital, commented: “With a focus on investing in the world’s next generation of market-defining companies, partnering with battleface and its highly experienced management team was a natural choice. We are confident in battleface’s ability to lead innovation in this category and drive exciting growth.”