Venture Capital Firm Teams Up With Industry Veteran Neil Utley
Irwin Mitchell has provided expert advice to Praetura Ventures in their role as investors for Percayso Inform's recent £2.7m funding round. The investment, which follows an initial investment made last February, has been secured from the North West based venture capital firm and industry veteran Neil Utley.
Percayso Inform, a Nottingham-based insurance data intelligence provider, has successfully secured this significant investment to support its growth and expansion plans. The company has also completed the acquisition of Cazana, now rebranded as Percayso Vehicle Intelligence.
Adam Kaucher, Corporate Partner at Irwin Mitchell, and Gregory Mazgajczyk, also from Irwin Mitchell, played instrumental roles in advising Praetura Ventures throughout the investment process.
Expert Opinion"We are delighted to have advised Praetura Ventures on this significant investment in Percayso Inform. It is a testament to Percayso Inform's strong position in the market and their innovative approach to insurance data intelligence. We are confident that this investment will enable Percayso Inform to further enhance their offerings and achieve their growth objectives." Adam Kaucher, Corporate Partner at Irwin Mitchell
David Foreman, managing director at Praetura Ventures, said: “Our relationship with Percayso has gone from strength to strength over the past 16 months, and our team have been impressed with the progress that Percayso has made in such a short space of time. We will be continuing with our More Than Money support and couldn’t be more excited about the road ahead.”
Rich Tomlinson, managing director at Percayso, said: “We’re delighted to welcome Neil as an investor. He has a breadth of experience and knowledge to share from his 30 plus years of working in our industry at the highest level. In particular, his expertise in the motor insurance market will be invaluable in helping us to achieve our ambitions for Percayso Vehicle Intelligence.
“We’re hugely proud that Praetura Ventures are continuing to support us. We’ve forged a fantastic relationship and in particular, I’d like to offer special thanks to Guy Weaver from their team who played a critical role in the Cazana acquisition.
“As we look ahead, we believe that Percayso Inform will play a key role in helping insurance providers of all shapes and sizes to get more out of the wealth of data available to enable them to write better business. The combined skills and experience that Neil and Praetura Ventures bring to our business will undoubtedly help us to accelerate our growth plans.”
Neil Utley was chairman at Hastings where he led the management buyout from Insurance Australia Group in 2009, and led the insurer through its initial public offering in 2015. Prior to this, he held CEO roles with Privilege Insurance and Cox Insurance Group.