Aurora secures seed funding from QBE Ventures

Aurora, a digital commercial insurance platform, has secured seed funding from QBE Ventures, the investment subsidiary of the global insurer QBE Insurance Group.

The funds will be used to enhance Aurora’s lead algorithmic trading proposition, expand its product offering, and enable the company to pursue  new commercial distribution partnerships.

QBE Ventures is known for investing in and building alongside early-stage technology-orientated businesses, leveraging its global strength to accelerate industry innovation.

This collaboration reflects the pair’s shared vision of being part of an augmented ecosystem where complex commercial insurance is data-driven, efficient, and immediate.

Jan-Vincent Finn, Co-Founder and Chief Executive Officer, Aurora commented, “We’re delighted to have the support of QBE Ventures.

“Aurora is uniquely positioned to simultaneously enhance both our insurers and broking partners’ propositions. James and his team have a fantastic understanding of our complex business and how Aurora’s role within the ecosystem will continue to develop.”

Bijal Patel, Co-Founder and Chief Technical Officer, Aurora added, “We’re grateful for the QBE Ventures team’s support, whose strategic alignment, shared vision for algorithmic trading, and understanding of the benefits of our innovation make them an ideal investor.

“Their collaborative approach, diligence, and expertise in emerging industry trends have really impressed us, and we’re excited to continue working together to drive the insurance industry towards a more data-driven and efficient future.”

James Orchard, Chief Executive Officer, QBE Ventures concluded, “We’ve really enjoyed getting to know Jan, Bijal and the team.

“Algorithmic trading, and better leveraging automation and AI to improve workflows and the understanding of risk, present key opportunities for long-term growth. Aurora has developed a strong asset, and we’re looking forward to helping them scale globally.”

Earlier this year in July, Aurora launched its flagship Commercial Combined solution, supported by AXA Insurance, for small or midsize enterprises (SMEs).

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