Start-up bags £15m
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.