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Bootstrapped InsureTech platform uBind accelerates growth with venture debt financing
About uBind:
uBind is a cutting-edge InsureTech platform that powers the seamless online distribution of insurance products. Its fully digital system enables insurers, brokers and underwriting agencies to sell policies directly via websites or through broker portals, streamlining operations and enhancing customer experience.
Funding strategy:
Having successfully bootstrapped its operations, uBind has strategically leveraged Mighty’s venture debt to accelerate its growth while maintaining ownership and control of its business.
Use of funds:
Mighty’s funding has provided uBind with quick access to growth capital, fuelling revenue expansion and enabling the company to scale its development team. These resources are being used to enhance uBind’s marketplace platform with new features, strengthening its competitive edge in the digital insurance sector.
Achievements:
Since partnering with Mighty, uBind has achieved a 54% increase in annual revenue and expanded its client portfolio by nearly double. We look forward to continuing to partner over the coming years!
Check out some of the other businesses in Mighty's portfolio.
