Insurance firm White Mountains Insurance Group has led a £6m ($7.8m) seed round for UK-based removal services and property management platform Buzzmove, Startups reported on Monday.
Buzzmove has built an app that enables users to compile a digital inventory of their possessions in order to help them organise moves and buy contents insurance. It also assists users in finding suitable moving companies for each trip.
The company raised $650,000 in seed funding in early 2014 from Wayra, the accelerator run by telecommunications company Telefónica, and angel investors Michael and Simon Blakey, Daniel McPherson, Tom Singh, Andrew Weizs and Justin Peters.
Buzzmove, a graduate of Wayra in 2013, also graduated from accelerator Startupbootcamp’s InsurTech initiative in December 2015. It will put the new funding towards product development.
Rebecca Downing, founder of Buzzmove, said: “Buzzmove aspires to be to home and household contents insurance, what telematics is to motor insurance, enabling truly personalised home and household contents-based insurance policies.”