Urban Jungle Raises £2.5m Seed Funding

Generation Rent-centric insurance start up Urban Jungle has announced a £2.5m seed funding round. Participants include new and existing angel investors, including Rob Devey ex CEO of Prudential UK, and Simon Rogerson CEO of Octopus Group.

Urban Jungle says it is aiming to challenge traditional insurance providers by catering for the growing number of UK renters who it believes are underserved by the industry. It offers a platform designed from scratch specifically with renters in mind together with a pay-as-you-go policy, a commitment to transparent pricing and modern policy terms.

CEO Jimmy Williams said: “I’m immensely proud of what the team has achieved since our last funding round. We’ve ticked off everything we set out to do, and more, as well as bringing in some amazing people to lead us into the next stage. There’s still so much about the insurance industry that we want to fix, and this funding will allow us to accelerate the pace at which we do that.”

Lead investor, Rob Devey, added: “I’m very pleased to continue supporting Urban Jungle. Greg and Jimmy have done a great job at growing the business by collecting the best talent around them, building some outstanding partnerships and consistently executing on their strategy. It is very exciting to be involved in the next phase of the company’s growth.”

A breath of fresh air though their platform is, Urban Jungle will face a challenge making inroads into a very well established and competitive industry. Their biggest challenge might be persuading renters that they actually need insurance at all.

Source Urban Jungle
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