InsurTech Futures: Pay-per-mile broker gets £350,000 investment
The on-demand motor start-up is gearing up for UK launch as it awaits FCA authorisation.
InsurTech broker By Miles (formerly known as Just Miles) has received investment of £350,000 from Hambro Perks and InMotion Ventures and a number of angel investors.
The London based insurtech startup stated that it is set to launch what it described as a new kind of pay-per-mile insurance policy later this year.
The cover will be available along with a smartphone app that By Miles claimed will make owning a car simpler and more cost-effective for lower mileage drivers.
The business was
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