London-based insuretech Loxa bags £2.7m to expand across Europe
London-based insuretech Loxa has completed a £2.7m seed funding round to expand its embedded insurance platform across the European retail market.
The firm secured the investment in three separate tranches from a group of angel investors and family offices.
The Lazaroo-Hood Group led the backing with further support from the Angel Investment Network, FundMyPitch, and the Entrepreneur’s Collective.
Loxa serves as a full-stack managing general agent (MGA), designing bespoke insurance schemes for its partners under authorisation from the Financial Conduct Authority.
Loxa’s European growth
Loxa provides insurance solutions for diverse categories, including furniture, electronics, and power tools, at the point of sale to help merchants create new revenue streams.
The technology integrates with major e-commerce platforms, including Shopify and WooCommerce, enabling merchants to go live within 48 hours.
More than 45 retail partners, including eCatering and JCB Pro Tools, already utilise the system.
Management intends to use the new capital to increase the retail partner network to more than 150 providers.
The business has outlined plans to expand into the European Union to scale its product protection services.
Erjon Skora, former managing director at Cover Genius, has joined the leadership team as co-founder and managing director to oversee the next phase of operations.
The firm aimed to position itself for a future Series A round following this period of anticipated expansion.
“We started Loxa because we believed embedded product protection should be as universal as the checkout itself, available to every retailer, for every customer, everywhere. We made a deliberate choice to build this round with angels and operators who shared our mission and backed our vision from the start, and that alignment builds better businesses. Closing this round means we can now deliver on that promise at scale, with the right people and resources to execute successfully,” said Jamie Hamer, co-founder and Loxa CEO.
“Closing the Seed is the starting gun, not the finish line. We’re heading into a Series A with traction, a clear European roadmap, and a system that onboards retailers in under 48 hours, integrates seamlessly, handles policy volumes at scale, and delivers an excellent claims experience. The next 18 months will define Loxa’s position in this market, and we intend to own it” noted Erjon Skora.