Cuvva

Cuvva — the British company founded in 2016 specializing in automobiles insurance and travel. Its services can use through mobile application. Cuvva directly connects users and insurers and makes out short-term insurance policies within several minutes, it is told on the official site of the company.

Cuvva works without intermediaries, does not take the commission and does not fine, for example, for making changes in the policy.

History

2019: Attraction of $19 million investments, including from RTP Global fund

At the beginning of December, 2019 it became known of a financing round which was carried out by Cuvva company. Among other things invested venture fund with the Russian roots Digital Horizon in it and RTP Global fund of Leonid Boguslavsky.

Besides, LocalGlobe, Techstars Ventures, Tekton, Seedcamp and Breega took part in the investment transaction. How many means were provided by each of investors, is not specified. According to the results of all round the British startup managed to collect in total 15 million pounds ($19 million).

It became known of a financing round which was carried out by Cuvva company

The received investments of Cuvva are intended to be spent for business development, including for start of a new insurance product with a monthly subscription in 2020.

Besides, the company intends to expand the command, having added to it more engineers, developers, marketing specialists and service staff. The startup is going to double the number of staff which by the beginning of December, 2019 totals about 80 employees within 18 months.

By the beginning of December, 2019 of Cuvva sold more than 40 million insurance watch, and services 250 thousand clients use company services, the application became the most downloaded in the category. 3% of the autoinsurance sold in the British market (own data of Cuvva) are the share of Cuvva.^[1]

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