Bought By Many sells CommerzVentures on series B

Jul 6, 2018 • Robert Lavine

The specialist insurance network has received $19.8m in a CommerzVentures-led round backed by Marsh and Munich Re/HSB Ventures.

CommerzVentures, the venture capital arm of financial services firm Commerzbank, has led a £15m ($19.8m) series B round for UK-based insurance platform Bought By Many.

The round also featured insurance brokerage Marsh, Munich Re/HSB Ventures, which invests on behalf of reinsurer Munich Re, venture capital firm Octopus Ventures and private investors including Evelyn Bourke and Crispin Odey.

Founded in 2012, Bought By Many enables users with specific needs to form groups in order to get discounted insurance from established providers.…

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