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Loxa, a UK-based Insurtech firm focused on revolutionising product protection, has successfully raised \u00a3125,000 through\u00a0Angel Investment Network\u00a0<\/a>(AIN) as part of a \u00a31.69 million Seed Round.<\/p>\n Loxa (formerly known as Bolt Cover) enables retailers to service their customers with Product Protection cover at checkout for repairable items such as furniture, eyewear, and power tools. Partnering with established insurance companies, Loxa provides embedded insurance solutions that retailers and manufacturers can easily integrate into the customer sales journey, both online and in-store.<\/p>\n The firm\u2019s vision is to become the UK\u2019s leading provider in the underserved B2B2C insurance retail market across all consumer product categories. The funds will enable Loxa to complete its tech stack, expand its scalable technology to integrate with websites and EPOS systems and strengthen its D2C upsell offerings, starting with a power tool scheme. The goal is offering a consumer product-specific alternative to traditional home insurance by 2026.<\/p>\n According to founder Jamie Hamer: \u201cLoxa is on a mission to rebuild trust in repair-first insurance and unlock significant value for UK retailers in the expanding product protection market. This fundraise marks a significant step in our journey. The process can be fraught but partnering with the right investors, like those we found through AIN, makes all the difference. We\u2019re excited to use these funds to scale Loxa, execute our ambitious plans, and get this business motoring towards profitability.\u201d<\/p>\n According to Alex Caparros, senior broker at Angel Investment Network: \u201cLoxa is addressing a significant gap in the market with its innovative approach to product protection. We are delighted to have connected them with our strategic investors, who recognise the strength of Loxa\u2019s vision. Their commitment to empowering retailers and delivering enhanced value to consumers represents a compelling proposition, with a journey that is just beginning.\u201d<\/p>\n Loxa remains open to further strategic investment from organisations that can accelerate its mission.<\/p>\n (Founder picture from left to right Richard Smith, Tori Hutchinson, Jamie Hamer)<\/em><\/p>\n Are you looking for an angel investor to help fund your business? Join us at\u00a0Angel Investment Network<\/a><\/em>,\u00a0where global investors meet the great businesses of tomorrow.<\/em><\/p>\n \t<\/div>\n