Digital Risks has secured £8m funding.
The Series A round into the London InsurTech was led by BHL Holdings, owner of comparison website Compare the Market.
Nire Capital also participated in the round alongside existing investors Concentric, Beazley and Seedcamp.
London-based Digital Risks is a flexible, personalised insurance provider for start-ups and SMEs, and the new and emerging threats they face.
Last month it announced the appointment of Anil Sharma as its new CFO following the launch of partnerships with Starling, Revolut, Urban and Appear Here in 2019.
“We’re living in the age of the disrupter. Across every industry new tech-led businesses are changing attitudes and processes for the better,” said BHL CFO Ian Leech.
“In the insurance sector, a market deeply ingrained with traditional ways of working and thinking, it’s Digital Risks that is leading this charge.
“Offering flexible, bespoke cover to SMEs faster than ever before. An extremely exciting business in its field, Digital Risks is looking to continue its rapid growth across the UK. This investment will help support the business to achieve this goal.”