Start-up bags £15m

Scottish Daily Mail - - City & Finance -

AN IN­SURANCE startup that of­fers pay-as-yougo poli­cies has bagged £15m of fund­ing to take on the in­dus­try gi­ants.

cuvva, which op­er­ates through a mo­bile phone app, was founded in 2014 by 31-year-old en­tre­pre­neur Freddy Mac­na­mara. The grow­ing busi­ness has man­aged to bring in city heavy­weight Bruce carnegie-Brown, the chair­man of in­surance mar­ket Lloyd’s of Lon­don, as its chair­man.

He backed cuvva’s fund­ing round, as did Do­minic Burke, boss of in­surance bro­ker Jar­dine Lloyd Thomp­son, and Go com­pare’s for­mer chief in­vest­ments of­fi­cer Faisal Galaria.

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