Insurtech Digital Fineprint raises $4m to fund expansion plans in North America

London-based insurtech start-up Digital Fineprint (DFP), a provider of commercial insurance analytics, has secured a $4 million investment from Eos Partners and Pentech Ventures to support its expansion plans, and formed a new partnership with RSA Insurance Group.

DFP’s technology has been used by Hiscox, QBE and Euler Hermes, among other insurers.

The company said it will use the new funds to further extend their tech team maintaining a product focus on data and insights. In addition, the company plans a future geographic expansion with North America being a key strategic market.

DFP has also announced a new partnership with insurer RSA and released a new feature of its Risk Atlas software surrounding insurance renewal notifications.

Sam Evans, partner at Eos, said: “Having worked with the company for the past three years we were delighted to lead this round. DFP target an underserved and rapidly growing market and have built an approach that allows the capture, structuring and analysis of multiple new data sets to support premium growth, enhanced underwriting profitability and better customer outcomes.”

Erik Abrahamsson, founder and CEO at DFP, said: “Sam, Carl and the rest of the team at Eos invested as Angel investors back in 2016. Now that they have raised their flagship fund, we are honoured and privileged to be one of the first investees from the fund itself. Being 100% insurance-focused, the team at Eos Venture Partners are incredibly helpful and knowledgeable, which helps us rapidly scale up the DFP proposition.”

Marc Moens of existing investor Pentech Ventures, added: "Over the past 2 years DFP has already achieved clear recognition in the insurance world for the way it uses powerful technology and Big Data to transform the way the insurance community profiles SME risk, thereby improving the reach and profitability of DFP's clients. DFP is poised to become the category leader in data-driven innovation for the insurance industry, and we are thrilled to continue to support DFP in its next phase of growth."

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