Stubben Edge Group secures further £5.6m growth capital at £175m pre-money valuation

The round is led by Dowgate Capital, which led the previous fundraise in September

Fast-growing FinTech kick-starts ambitious 2023 following phenomenal growth in 2022 

UK-based FinTech Stubben Edge Group (the Company) has today announced that it has secured a further £5.6m in investment. Once again, the round was oversubscribed and very well received by both existing and new shareholders, giving the Company a pre-money valuation of £175m and representing a 75% uplift on the previous fundraise. It further demonstrates investors’ confidence in the Group which enjoyed topline revenue growth of over 400% in 2022 and is forecasting similar growth this year. 

Since the last round in September 2022, the Company has continued to deliver on its ambitious growth strategy, expanding and diversifying its service offerings while also capturing a greater share of the insurance value chain, as shown by the acquisition of London & International Insurance Market specialists Helodrium, Managing General Underwriter (MGU) Cedar Underwriting (both of which remain subject to regulatory approval), and broker distribution platform provider Insurercore, the purchase of which was announced to investors and shareholders in November 2022.

To date Stubben Edge has raised over £20 million. Cornerstone investors include several Lloyd’s names including Nigel Wray, Dowgate Wealth, family offices, institutional investors and other HNW investors. 

Chris Kenning, CEO of Stubben Edge, says: In the context of the wider economic climate and decreasing confidence in the FinTech market, this fund raise is testament to the strength of our business.  

In 2023 our ambition continues to be to support the entrepreneurs and owners of brokers and IFAs. Helping them build their businesses by providing the technology, data and products that will enable them to service their SME clients more efficiently, cost-effectively, wherever, and whenever their clients want to engage. 

We continue to challenge the Financial Services industry, a slow adopter of technology which is both arbitrary and unbalanced. We believe that against the current economic environment it is particularly important to empower brokers and IFAs to provide better value-for-money, security and confidence for customers and their families, while building long-term business success.” 

David Poutney, Chief Executive of Dowgate Capital, commented: “We were delighted to participate in Stubben Edge’s fundraise once again. The company’s phenomenal growth in 2022, in the current difficult economic climate, showcases that Stubben Edge has an enormous growth potential. We believe that Lloyd’s and the insurance industry generally are ripe for disruption and reform and that Chris Kenning and the team at Stubben Edge are well-positioned with their strategy and products to take full advantage of the opportunity in 2023. We’re excited to see them execute on their ambitious plans and look forward to continuing to work with them on their journey.”   

Ben joins Stubben Edge’s Appointed Representative Network

All-in-one employee benefits startup becomes Stubben Edge’s newest AR 

Stubben Edge is excited to announce the newest addition to its Appointed Representative network: Ben. The rapidly growing network now boasts several outstanding ARs, connecting like-minded and complementary organisations in their mission to provide outstanding financial and insurance services. As a Stubben Edge Appointed Representative, Ben can access various forms of support, including risk, compliance, capacity and access to a range of competitive new insurance products. 

Ben is an employee benefits platform that enables HR departments to provide flexible perks and benefits for their workers. With everything set up in one centralised platform, HR Managers can easily deliver these benefits, and employees can effortlessly access them.  

Flexibility is key to Ben, and employees can choose their preferred benefits and spend any leftover allowance as they choose. As employee satisfaction and retention is a major discussion in the post-Covid workplace, Ben equips companies with an easy way to furnish their employees with benefits they will actually use. 

Sebastian Fallert, CEO of Ben, comments, “We’re delighted to be joining forces with Stubben Edge. This partnership will allow us to keep up the momentum and accelerate our mission to make benefits work for everyone, everywhere.”

Gemma Jarrett, Director of Networks at Stubben Edge, says, “We are excited to welcome Ben into the Stubben Edge Network, their innovative approach to Employee Benefits is extremely exciting and we look forward to supporting them in their future endeavours. We look forward to providing them with an extensive range of insurance products for their customers.”  

Businesses interested in becoming part of Stubben Edge’s Appointed Representative network should contact Gemma Jarrett today with any questions or to get started.