Insurtech platform Instanda has secured a growth credit investment facility from Palatine Growth Credit to accelerate its international expansion, recruit staff and increase technology investment.
Founded in 2015, the firm developed a no-code platform for insurance product innovation and complex underwriting. In the 11 years since its launch, Instanda has expanded from its UK base into the US and Australia, with products on its platform now sold across the world. Insurance carriers, managing general agents and brokers use the software to create policies quickly.
The business will deploy the funding across global expansion, talent acquisition and technology, with plans to build on its footprint in existing and new markets.
Palatine Growth Credit raised its fund in 2024 to support high-growth technology companies across the UK. The fund operates alongside Palatine’s buyout and impact funds within the wider Palatine group.
Instanda chose to partner with the investor due to its track record of backing technology companies and its understanding of the sector.
William Chappel, managing partner of Palatine Growth Credit, said: “We are so excited about the potential of Instanda. The management team is in an exceptional place to grow rapidly, and we are thrilled that our growth credit facility will be used for further expansion and success across the globe.”
Tim Hardcastle, chief executive of Instanda, added: “Since founding Instanda in 2015, we’ve built a platform that’s changing how carriers, MGAs and brokers bring insurance products to market and global demand has never been stronger.
“Palatine Growth Credit’s backing gives us the firepower to scale our team, strengthen our infrastructure and deepen our investment in AI and data science, accelerating our growth across existing and new markets worldwide.”
