UK Based Insurtech Zego Raises $150 Million in Series C Funding Round, Enters Unicorn Club

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London based commercial mobility insurtech Zego has emerged as the UK’s first insurtech unicorn after raising $150 million, valuing the company at $1.1 billion. The Series C round of funding, the largest ever raised by a UK-founded insurtech, was led by DST Global and General Catalyst, along with participation of existing investors Latitude, Balderton Capital, TransferWise and Target Global, bringing the total amount of funding to $200 million.

Zego, founded in 2016 by Harry Franks, Sten Saar and Stuart Kelly, is a commercial auto and ‘New Mobility’ insurance provider, powering opportunities for modern business by saving time and money. The insurtech will use the raised funds to accelerate its growth and expand into new markets to aim deeper penetration across Europe.

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