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Disrupting life insurance in the UK with automated advice platform, Anorak secures £5M

Anorak Co-founders
Image credits: Anorak

Over nine million families in the UK face the risk of financial collapse if the family breadwinner dies. In the United States, it’s 37 million families, and it’s an even bigger issue across Asia. It’s a massive global problem and one that has seen an increased focus in the public conscience since the outbreak of the Covid-19 pandemic.

£5M funding for Anorak

A London-based insurtech startup Anorak has also witnessed a surge in demand for its services in recent times. And now, it has announced securing £5 million in its latest funding round, which will help the company accelerate its expansion. 

Anorak’s latest funding was led by Outward VC, with Triple Point Ventures, while existing investor Kamet Ventures participated as well. Further, the round was backed by some notable angel investors including Nic Kohler, the former CEO of Hollard, Paul Evans, Chairman of Allianz PLC, and board member of Bupa and SwissRE Europe, Charlie Delingpole (CEO and founder of ComplyAdvantage), and Will Neale (Founder of Fonix and Grabyo). ...