London-based INSTANDA raises €17.1M to enhance its AI-powered insurance platform and expand globally

London-based no-code insurance platform INSTANDA has secured new funding to support its expansion, platform development, and acquisitions.

London-based INSTANDA, a no-code insurance platform that enables insurers and Managing General Agents (MGAs) to launch, manage, and optimise products, has completed a $20M (nearly €17.10M) investment round. 

The funding was led by CommerzVentures, a Frankfurt-based fintech and Insurtech venture capital firm, with participation from existing investors Toscafund, Dale Ventures, and company advisor Bronek Masojada.

Patrick Meisberger, Managing Partner at CommerzVentures, says, “We have always sought to invest in technology companies that are making a positive impact within their sectors. INSTANDA represents one such opportunity, and we are pleased to be part of this important stage in its journey.”

“We have been particularly impressed by the strength of their platform and the commitment and collaboration of their team. We look forward to working closely together and to the possibilities that lie ahead.”

The investment will support INSTANDA’s global expansion, product development, and acquisitions. This brings the company’s total raised funding to date to over $85M.

A platform for insurance product innovation

Founded in 2012 by Tim Hardcastle and Derek Hill, INSTANDA is a no-code platform for the insurance industry. It is being used by insurers and Managing General Agents (MGAs) to manage products across personal and commercial lines without engineering overhead.

The platform enables users to launch, manage, and adjust products, apply data insights in real time, and implement AI in underwriting and claims processes. It allows faster personalisation, which shortens time to market, reduces risk for new propositions, and supports adaptation to regulatory or pricing changes.

Since the last funding round, INSTANDA has recorded growth of over 40 per cent CAGR, reached profitability, and established partnerships with global System Integrators (SIs) and Insurtech companies such as Coherent. These partnerships help insurers move away from legacy systems and deliver new customer offerings.

Currently, the platform is in use by more than 80 tier 1 and MGA clients in the US and UK markets, supporting product management and operational processes.

Capital utilisation

INSTANDA plans to use the funds to support growth and platform development. The company will expand operations in North America and Europe to meet demand from commercial lines and life and health insurers. 

Funding will also be used to develop data science capabilities within the platform, aiming to streamline underwriting processes and deliver personalised customer experiences. 

In addition, the company will use part of the capital to pursue acquisitions to expand capabilities and client offerings.

Tim Hardcastle, CEO and co-founder of INSTANDA, says, “This investment reflects both the strength and potential of our platform, our people, and our vision. We are delighted to work with CommerzVentures and leverage their proven expertise in B2B SaaS.”

“With CommerzVentures onboard and continued support from Toscafund and Dale Ventures, we are poised to scale faster, innovate deeper and deliver even greater value to our diverse client base, from leading MGAs to global carriers operating across multiple markets.”

“At the heart of this next phase of innovation, we will further embed data science and AI in our platform for the benefit of our global client community,” adds Hardcastle.