InsurTech startup Homelyfe has raised £2.4m in a Seed round led by Tallis Capital and Peterson Ventures.
Homelyfe will use the money to continue developing its proprietary technology and to grow its team.
“Our vision for Homelyfe is to build an insurance solution around the needs of the modern consumer,” said CEO and co-founder of Homelyfe, Peter Goodman.
“The insurance industry has seriously fallen down on customer centricity, not interacting with people on the technology they want to use, or with the solutions they expect and not being wholly transparent around pricing. Homelyfe is giving the insurance industry a much-needed update; making insurance simpler to help consumers get the right policy, at the right price, 24/7,” he added.
Homelyfe was co-founded by Goodman and Andrew Craven, serial entrepreneurs who previously set up Brighten Option, now Social.com, which sold to Buddy Media and then Salesforce in 2012.
They launched Homelyfe to enable consumers to do everything from getting insurance quotes and purchasing, to managing and renewing multiple policies and initiating a claim using the smartphone app.
Vasile Foca, managing partner of Talis Capital, said: “At Talis, we believe in combining cutting edge technology with conventional business, and Homelyfe’s modern and consumer-centric approach to insurance fits perfectly with that ideal.”
“InsurTech is an area we continue to monitor closely, especially as it’s a sector experiencing monumental shifts in technology. Peter and his team have built an extremely scalable solution, and we’re delighted to back a company that promises to change the attitudes and experience of the insurance industry.”
Randall Lloyd, of Peterson Ventures, concluded: “When we invest, we’re on the lookout for outstanding entrepreneurs to back. The Homelyfe team has an impressive track record that is supported by a compelling business idea, which addresses a notable gap in a market that is ripe for disruption and improvement.”