The auto insurance provider secured $18.3m in a round led by CommerzBank’s investment arm that lifted its overall funding to more than $26m.
CommerzVentures, the venture capital arm of financial services firm CommerzBank, led a £15m ($18.3m) series B round for UK-based flexible automotive insurance provider By Miles on Friday.
Octopus Ventures, Insurtech Gateway and JamJar Investments also participated in the round, which increased the company’s overall funding to more than $26m.
Founded in 2016 as Just Miles, By Miles provides comprehensive car insurance policies billed on a pay-by-mile basis. It has sold 20,000 policies and insured 38 million miles to date, having…
