Digital Fineprint

Digital Fineprint has raised £2m ($2.7m) from investors.

The InsurTech startup will use the cash to expand its London-based team and to continue developing its social media-powered insurance distribution software.

UK-based software-focused venture capital investor Pentech, which has backed firms including Nutmeg and Fanduel, led the round.

New investors included Force Over Mass and Andy Homer, the former CEO of AXA UK.

Existing backers also participated in Digital Fineprint’s round.

“As a fund, we have looked closely at the insurtech space and the traction achieved by the team at DFP in such a short amount of time is impressive. Their niche focus on helping insurers use social media to find new customers and gain actionable insights has worked well, and we are looking forward to helping DFP grow,” Marc Moens, partner at Pentech, said.

Digital Fingerprint spun out of Oxford University in 2016 and has since worked with the likes of Hiscox and Allianz, which used the startup’s proprietary machine learning technology, predictive modeling and social media analytics to maximise lead generation.

“Partnering with Pentech is an amazing milestone for Digital Fineprint and the whole team is excited about this great opportunity,” said Erik Abrahamsson, the startup’s CEO.

“It’s fantastic to see the growth in the value we create, both for the insurers using our platform and their end customers, and we are looking forward to continuing to expand the business so that we can partner with further insurers.”

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