Praetura Ventures Supports Ambitious Firm’s Plans To Take Advantage Of Fast-Growing Sector
The corporate team at Irwin Mitchell has advised Praetura Ventures on its lead participation in a £3.4m investment into Nottingham insurance data intelligence provider, Percayso Inform.
Launched in 2019, Percayso provides next generation insurance intelligence services which help insurers prevent fraud, compete on price comparison sites, and reduce risk level. The business employs over 20 people and boosted by the investment, Percayso is now targeting growth by penetrating new sectors of the UK insurance market.
The insurtech sector has seen record growth, bolstered by funding of more than £11.7bn during 2021, which was more than double the total raised the previous year.
The Percayso deal was facilitated by Praetura Ventures’ director, Guy Weaver, and investment manager Sim Singh-Landa. Legal advice was provided by Adam Kaucher and James King at Irwin Mitchell.
The Irwin Mitchell corporate team has advised Praetura on several investments during the last 12 months. These include London based fundraising and events platform Enthuse, virtual events and workspaces pioneer Pixelmax, allergy testing specialist Reacta Biotech, and creator of workplace improvement tools Culture Shift.
Expert Opinion“We’re delighted to have advised Praetura Ventures on what is another very exciting investment. Percayso is incredibly ambitious and I have every confidence that with Praetura’s support and financial backing, the business will be able to tap into this fast-growing sector and realise its expansion plans.” Adam Kaucher - Partner
David Foreman, managing director at Praetura Ventures, said: “The investment team has an incredibly thorough due diligence process and we were so impressed with how highly Percayso’s clients spoke of them. The team has built a valuable tool that can clearly help insurance providers to get more from their data and create a real advantage.”