InMyBag has launched a £500,000 crowdfunding campaign on Seedrs alongside new gadget replacement offering.

The London-based specialist tech insurance company wants to revolutionise the process of insuring tech products.

It offers insurance to both individuals and SMEs and guarantees to replace lost, stolen or damaged gadgets in as little as four hours and always within 24 hours.

“Consumers are bearing the brunt of the insurance industry’s sense of complacency,” said InMyBag CEO Gustav Holst Stuge.

“Spiralling replacement times and convoluted claims processes have created a perfect storm for customers who have no confidence that their invaluable gadgets will be replaced in anything like a timely manner.

“Quite simply the insurance industry is failing to move with the times – as companies and freelance workers are more and more reliant on their devices to work remotely, the prospect of spending any sort of time without their tools is unthinkable.

“As devices become more pricey – and consequently more attractive to opportunistic criminals – there’s more need than ever that consumers can trust their insurance provider to deliver.

“We’re hoping that this fundraise will give us the resources to reach even more people that need ultra-responsive cover.”

The funding round runs from January 22nd for 60 days with the opportunity for investors to take a portion of a 16.67 per cent stake in the company’s equity.