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Telematics provider The Floow gets £13m from global investors including Direct Line Group

Matthew Grant

March 11, 2017

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Matthew Grant

Five years since it started, the Floow sets a new high for UK Insurtech investment this year. China based investment group Fosun was the leader investor, but Direct Line Group offers a strong strategic partner. Since speaking at InsTech London last year CEO Aldo Moneforte has also caught the attention of the Prime Minster..

Prime Minister Theresa May said: “Today’s announcement of a £13m investment into Sheffield’s thriving tech sector by three firms, including foreign investors, demonstrates the faith they have in the future of Sheffield. “It’s great news for The Floow, which will be able to use the cash to double its workforce and carry on expanding the cutting-edge car safety technology that has seen it create 70 high skilled jobs in the city.

http://www.fintech.finance/01-news/13m-investment-for-uk-technology-firm-the-floow/