British insurtech company Superscript has raised £45 million in a Series B funding round to support its international expansion and further development of artificial intelligence-powered insurance solutions for small and medium-sized enterprises (SMEs).
The funding round was led by BHL UK, the owner of Comparethemarket. US-based insurance provider The Hartford also participated, alongside existing investors such as Concentric.
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Focus on SME markets and embedded insurance
Superscript plans to use the new funding to strengthen its underwriting and broking capabilities, scale its embedded insurance partnerships, and expand its operations to reach more global SME markets.
The company, which aims to modernise insurance for small businesses, has recorded a fivefold increase in active customers since its previous major funding round in 2020.
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Support for growth and innovation
Cameron Shearer, CEO and co-founder of Superscript, said the investment is a “huge vote of confidence” in the company’s approach. He stated that the funding will help the startup continue its mission to make insurance more accessible and responsive to the evolving needs of small businesses.
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Backing from industry leaders
Superscript’s model includes embedded insurance and customised digital policies for SMEs across a range of industries. With support from investors including The Hartford, a company with over 200 years of insurance experience, Superscript is positioned to increase its presence in key international markets.
The involvement of BHL UK, a major player in digital insurance comparison, also signals a growing interest in solutions that simplify and adapt insurance for the needs of smaller firms.
Superscript will use this funding round to accelerate its product development and broaden its reach, as demand continues to grow among SMEs seeking more tailored and scalable insurance solutions in a rapidly changing business environment.
