The Private Equity & Venture Capital team were delighted to have advised Mundi Ventures and Opera Tech Ventures on their investments into Wrisk Limited (“Wrisk”), the embedded insurance platform purpose-built for the automotive sector, as part of their £12 million Series B funding round.
Wrisk, founded in 2016, provides white-label embedded insurance solutions that allow automotive brands and their customers to react quickly to the ever-changing insurance market. Brands Wrisk support include BMW, MINI, Volvo, Mercedes-Benz, Jaguar Land Rover and Stellantis. In 2024 Wrisk recorded triple-digit revenue growth.
The round was co-led by FSP’s clients Mundi Ventures and Opera Tech Ventures (the venture arm of BNP Paribas) who will both join Wrisk’s board of directors and who invested alongside Wrisk’s existing investors QBN and Volution.
Rafaela Andrade, partner at Mundi Ventures, said: “Our investment in Wrisk reflects our belief in their sophisticated approach to embedded insurance. The business has demonstrated a clear understanding of the evolving needs of automotive manufacturers, delivering effective insurance solutions that have brought market-leading scale.”
The team was led by Penelope Garden (Partner, Head of PE/VC) and Rachael Maunder (Partner, Corporate) with support from Lauren Lashley (Solicitor, Corporate) and Richard Adams (Graduate Apprentice Solicitor, Corporate).
