London-based Loadsure has announced an investment of €1.2 million led by Insurtech Gateway, alongside other corporate and angel investors.
Loadsure, founded in 2018, is set on revitalizing the freight spot market with an exciting new technology. Loadsure’s fully digital end-to-end, cloud-based insurance solution leverages predictive analytics and cutting-edge tech stack to provide the spot freight community with a full-service insurtech solution, integrated with leading digital transportation management platforms. As a result, Loadsure empowers brokers, shippers, and carriers to cut per-load insurance costs by 5x and accelerate claims settlements from days to hours.
Just as Uber and Lyft harnessed real-time data and a fully automated digital process to revolutionize the taxi industry, the transportation insurance industry is similarly primed for evolution. The lead investor of this round, Insurtech Gateway, recognizes that Loadsure is poised to lead the charge, and it’s delivering the funding and expertise necessary to help Loadsure accelerate the adoption of its one-click insurtech solution.
“Insurtech Gateway has given us the confidence and support network to achieve our goals as we take Loadsure to the next level,” said Loadsure founder and CEO, Johnny McCord. “We now have a broader set of experts behind us to help navigate the rocks that founder many startups. Their subtle but supportive approach with Loadsure has been massively appreciated.”
“The spot freight industry is a huge market with a complex value chain where a significant volume is not insured or is underinsured,” said Convex chairman and CEO, and Loadsure advisor, Stephen Catlin. “The digital end-to-end solution created by Loadsure is impressive, as is the scope of their ambition.”