Fleet specialist Flock secures $38m in funding

A hand extended holding a bag of pounds - illustration

London-based insurtech Flock has raised $38m (£31.7m) in a series B funding led by Octopus Ventures.

According to Flock’s CEO, Ed Leon Klinger, the funding round will allow the company to expand into new segments of the commercial motor industry, as well as new geographical locations.

Related Flock reveals expansion plans as it looks to grow in the broker space

Flock's chief revenue officer discusses the specialist's plans for growing its broker network and launching new products

The insurtech will be “doubling down” on its data-driven approach to risk quantification and

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Broking profits fall at Saga

Underlying profit before tax in Saga’s insurance broking arm fell to £39.8m for the year ended 31 January 2024, compared with £71.5m in the previous period.

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