Cuvva, the Scottish startup that reckons it’s spotted a gap in the market by offering hourly car insurance sold through a mobile app, is set to launch a novel and potentially disruptive new type of car insurance designed for infrequent drivers.
It’s well known that many people who own a car drive it less and less these days, especially those who live in a city, and yet conventional car insurance does a relatively poor job of reflecting this in the premiums we pay…
…Cuvva is announcing £1.5 million in new funding, in a round led by LocalGlobe, the VC fund founded by father and son duo Robin and Saul Klein.
The startup’s other backers include Tekton Ventures, Techstars Ventures, Seedcamp, Nick Hungerford (founder of Nutmeg) and Ian Hogarth (founder of SongKick). Cuvva has raised £2 million since being founded in late 2014.