It is so good to see a startup taking a grown up approach to their own finances. So many think that they can burn through funders money and profit is a dirty word.
Having a constant eye to the bottom line is the sign of an organisation that not only is making it from idea to reality now but is likely to be a real force in the industry into the future.
Well done Erik Abrahamsson and Digital Fineprint!
Exclusive: Insurtech firm Digital Fineprint is negotiating a second funding round, as it gears up to release financial results for its first profitable quarter. Digital Fineprint uses public social media data in order to automatically fill out customer policy applications and ‘recommend’ products through social media platforms. Founder and CEO Erik Abrahamsson, pictured (right), said the results of the latest funding round would be announced in two to three months. "There have been revenues in the hundreds of thousands for 2017,” he said. “We believe we are the first insurtech to be profitable at least in the UK. We are taking a different approach to other insurtech, which are effectively burning investor cash for revenue or profit.