Tim Hardcastle is the co-founder and CEO of Instanda, which provides a no-code platform for insurtech companies to build software products.
Hardcastle co-founded London-headquartered Instanda in 2012 with Derek Hill. It has created tools that let insurtech companies create products without specialist coding knowledge. It does so with a combination of pre-built product libraries that can be adapted for specific insurance providers.
Its clients include Atlanta, Standard Bank and Hamilton Fraser. In June last year, Instanda raised nearly £37m in Series B funding to fuel its international expansion.
In this week’s Founder in Five Q&A, the Instanda chief explains why startups should explore all options before external funding, why he’s excited by AI and quantum computing, and shares a common founder mistake.
1. What funding advice would you give to a first-time founder?
Tim Hardcastle: Be clear on the resources you have as a founder. Savings, equity in a property to borrow against, family (parents and in-laws may be more likely to have disposable capital) and friends who believe in you and are prepared to back you. This all should be thoroughly explored before you look at external funding sources....