# Darwin Insurance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/darwin-insurance

- Industry: Insurance
- Headquarters: Peterborough, UK
- Website: www.darwin-insurance.com
- Total disclosed funding: $2.1M
- Latest round: Seed (Jul 21, 2021)
- Investors on record: 2

## About

Based in Peterborough, UK, Darwin Insurance specializes in providing comprehensive motor insurance solutions for personal and commercial vehicle owners, ensuring financial protection against accidents, theft, and damage.Darwin Insurance is focused on delivering motor insurance products. The company was formed in Peterborough, UK, and has successfully raised BRL 11.000 mn in Seed funding as of July 2021, mainly from Duxx Investments and Invisto. The company has engaged in one investment deal to date, reflecting its growth strategy since its inception.Darwin offers a range of comprehensive motor insurance products designed to cater to the needs of both individual and commercial vehicle owners. Their primary offerings include Darwin, Darwin Gold, and Darwin Platinum, which provide varying levels of coverage, including features such as windscreen cover, courtesy cars, and personal belongings protection. The core functionality of these products is to provide financial protection in the event of vehicle accidents, theft, or damage, thus addressing the critical issue of vehicular safety and insurance claims. Darwin's clientele includes private individuals and business owners in the UK market, with policies tailored to both personal and commercial vehicle use. The company ensures customer satisfaction by promising to cover excess fees and protect customers’ no-claim discounts if involved in accidents with uninsured drivers.Darwin's revenue model is primarily based on direct-to-consumer transactions within the motor insurance sector. For the most recent year, 2023, the company reported a revenue of BRL 4,477,668,909.20 and an EBITDA of BRL 168,553,210.70. Customers purchase insurance policies that encapsulate various coverage options at structured pricing points, with offerings designed for flexibility based on individual needs. Each policy tier—Darwin, Darwin Gold, and Darwin Platinum—provides distinct benefits, influencing the pricing structure accordingly. The firm emphasizes customer retention through its promises of new car replacements and guaranteed repairs, thereby enhancing customer loyalty and repeat business.In July 2021, Darwin Insurance raised BRL 11 million in Seed funding co-led by Duxx Investments and Invisto. The company plans to utilize the recent funding to enhance its product offerings and expand into new markets. Specific future products aimed at addressing emerging consumer needs are currently in design phases, with targeted launch dates to be announced soon. Additionally, Darwin is exploring opportunities to penetrate markets beyond the UK, although specific regions and timelines for these expansions have yet to be finalized.

## Funding rounds

- Seed, Jul 21, 2021, $2.1M — Invisto, Duxx Investments

## Investors

- Invisto (https://capitalatlas.ai/funds/invisto) — Seed
- Duxx Investments (https://capitalatlas.ai/funds/duxx-investments) — Seed