Loadsure raises $11 million

Insurance MGA Loadsure closed its $11 million Series A funding round led by MMC Ventures. Maritime, energy, and logistics company Crowley, and Insurtech Gateway also participated in the round.

Founded in 2018, the London-based startup offers per-load cargo insurance coverage “in 40 seconds or less” through various syndicates at Lloyd’s.

“We’re delighted to partner with MMC Ventures, Insurtech Gateway, and Crowley in driving meaningful change for the freight industry, especially now as it continues to wrestle with supply chain disruption and pandemic uncertainty. With this infusion of capital, we’ll make the strategic hires necessary to evolve our human-centric technology and make end-to-end risk management instantly available to every business.” – Loadsure CEO, Johnny McCord.

“Loadsure is completely modernizing the way the freight insurance market is served by building a fully digital, data driven, embedded insurance product. We have been extremely impressed by the domain expertise of the team, with their strong foundations and contacts in the insurance and logistics industry providing the perfect combination to build a seamless and scalable product. Loadsure’s product aligns with the changes that are happening in the market with shippers and carriers increasingly expecting flexibility, customization and ease of purchase.” – Alexia Arts, principal at MMC Ventures.