Insurtech Stubben Edge gains growth investment from Dowgate and Lloyd’s investors

UK-based insurtech Stubben Edge Group has gained a £10 million investment led by Dowgate Capital and a number of Lloyd’s investors to embark on its growth strategy including “selective M&A activity” in the insurance distribution market.

Stubben Edge has secured the funds following “doubling of business” since its first round in December 2020 from a number of Lloyd’s names, Nigel Wray, Nick Leslau and institutional investors.

The company aims to “revolutionise” insurance distribution by providing a digital platform where distributors, brokers and IFAs can start, run, and grow their businesses.

Stubben Edge claims its cutting-edge technology enables entrepreneurs to find and sell “better insurance products, cheaper and faster”.

“The Financial Services industry is arbitrary, antiquated, unbalanced and therefore not delivering the best products and experience to those working within it and to those customers needing it,” said Chris Kenning (pictured), CEO of Stubben Edge. “Our ambition is to change that, empowering brokers and IFAs to provide better value-for-money, security and confidence for customers and their families, while building long-term business success.”

“That rebalancing includes raising the standards of financial literacy and enabling greater access to the opportunities for business and career development, previously out of reach for some sections of society,” he added.

David Poutney, chief executive of Dowgate Capital, said: “We were delighted to take this opportunity to some of our institutional, family offices and other HNW investors. Many of whom are experts in financial services, Lloyd’s and the insurance industry generally, which we view as ripe for disruption and reform.

“Chris Kenning and the team at Stubben Edge are well-positioned with their strategy and products to take full advantage of the opportunity and we’re pleased to have been able to provide them with this initial round of growth capital and look forward to continuing to work with them on their journey.”

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