New InsurTech startup Dinghy closes $1.2m Seed led by Balderton

Jan 5, 2018 · uktech.news

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Dinghy, a new London startup offering flexible insurance to freelance professionals, has raised $1.2m in a Seed round led by Balderton Capital.

The round also drew participation from angel investors and ReSolution.

Dinghy’s co-founder Edward Woodcock commented on why he decided to launch the business: "As a former tech freelancer, my laptop was my workhorse. I’ve lost earnings from a broken laptop when it took the insurers five days to sort out the replacement.

With 24 hour replacement anywhere in the world, or immediate cash settlement once the claim is approved, I’m excited that we have closed that gap and can provide exactly what freelancers need."

The news comes as approximately 2 million people in the UK are registered as freelance workers, with an estimated 11 million working in the gig economy across Europe.

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