Insurtech startup battleface Inc., a UK firm that provides travel insurance products for unconventional travelers worldwide, announced it has successfully closed its seed financing round with backing from leading strategic and venture capital investors.
Atlanta, Ga.-based Fintech Ventures Fund has invested in the company, joining existing investors Greenlight Re and Tangiers Group. This investment will be used to expand software development, hire sales and business development personnel, and further the company’s global reach.
The amount of the investment was not disclosed.
Led by a team of travel insurance experts, battleface’s CEO, Sasha Gainullin, previously developed global operations for AIG Travel Guard and has worked with battleface since its inception. Managing Director Paul Simmonds brings experience as a Lloyd’s of London underwriter with previous leadership roles at Berkley Syndicate, CNA Hardy, Brit, and Goshawk.
“We got our start because many travelers couldn’t find the right insurance products with coverage for their unique travel destinations and real needs,” said Gainullin. “With the latest investment from Fintech Ventures Fund, we’ll continue to expand our B2B partnerships custom-building travel insurance solutions for groups, including business and NGO travelers, associations and membership-based organizations.”
battleface combines innovative technology and underwriting to create, distribute and service specialty travel insurance products for people in both retail and wholesale, the company explained. Products are supported by a network of 24/7 assistance coordinators, medical providers and on-the-ground field agents who provide emergency claims, medical and travel assistance services on a global basis.
Fintech Ventures Partner Lucas Timberlake said: “A core area of our fund’s investment thesis is that technology can be leveraged to more efficiently provide insurance products to markets that have been underserved by current offerings. We believe that battleface’s seasoned management team will create an industry leader in the travel insurance space. It is for these reasons that we are excited support the company’s future growth.”
West Malling, England-based battleface provides travel medical insurance benefits and services to travelers visiting or working internationally, including in the world’s most challenging places. Launched in December 2017, battleface was developed by Tangiers Insurance Services, an insurance intermediary and coverholder at Lloyd’s.
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