Insurtech MGA Peppercorn has secured seven-figure seed funding from EHE Capital to support its entry into the UK private car insurance market.
Peppercorn aims to transform the car insurance market by combining tech, data and AI to create an automated self-serve platform that will cut out bureaucracy, streamlines services and ultimately lowers premiums for customers.
They’re also transforming the front end customer experience by giving the customer a self-serve platform they can access anywhere meaning customers can choose how and when to interact with their car insurance provider, providing an end to frustrating call centre experiences and lengthy on hold times.
Guy Remond, co-founder and lead investor at EHE Capital said ‘What really stood out for me when we were introduced to Peppercorn, was the quality and the strength of the team Nigel has built. They’re massively experienced in both the insurance and startup world, and clearly have a great belief and respect in Nigels vision. As well as this they had a great product, supported by great tech.
‘We connected Nigel with our investor network who were all equally as excited about Peppercorn as we were and I’m looking forward to seeing Peppercorn shake up the car insurance market.’
Nigel Lombard, CEO and Founder of Peppercorn said, ‘when we spoke to EHE Capital they really brought into the vision of Peppercorn, but also understood the importance of people, it felt like they were really aligned to my personal values and that was really important to me and the rest of the team.’
‘I didn’t know that EHE stood for ‘Entrepreneurs Helping Entrepreneurs’ but when I found out the penny dropped, the interaction we had with them really captured that spirit and we had help, support and guidance from the whole team throughout the investment process.’
“If we’re going to challenge the status quo we’re going all in we want to turn insurance on its head, attract the best people, keep breaking new ground - and make the biggest impact we can. With the support of EHE Capital I’m confident we’re well on the way.”
EHE Capital is a high growth investment partner, connecting entrepreneurs with relevant investors whilst also providing a range of free content and education modules which help prepare an entrepreneur for their investment journey.