UK-based InsurTech Konsileo raises €5.9 million to expand its team and integrate AI

Konsileo, a UK-based chartered insurance broker, has secured €5.9 million in equity financing to fuel its expansion. This round of funding, led by Committed Capital and ACF Investors, follows earlier rounds of €3.2 million and €9.4 million in 2018 and 2024, respectively.

Konsileo's success stems from a proprietary broking platform that streamlines administration, ensures compliance, and incorporates AI technology. The company's founders, John Warburton and Peter Henderson, have built a culture that emphasizes organic growth through recruiting top talent and providing them with the autonomy to excel. This approach has resulted in a workforce of over 220 employees, who handle more than €100.5 million in annual insurance premiums for businesses across various sectors in the UK.

The platform's core functionality is to automate administrative tasks, enforce compliance, and assist brokers in gathering high-quality risk information. By doing so, Konsileo aims to liberate its brokers from time-consuming administrative work, enabling them to concentrate on building strong client relationships and delivering expert advice.

Konsileo's innovative approach, which eschews growth through acquisitions in favor of attracting and developing individual brokers, has proven successful. The company's CEO, Steven Harris, of Committed Capital, expressed delight at the latest financing, praising the founders for creating a top-tier independent broker in the UK without resorting to acquisitions.