The Toronto startup offers curated commercial insurance packages for startups and small business. It says the funding will fuel the hiring of new talent.
“Most small business owners have to fill out and fax 10-page forms, wait weeks and pay by cheque to get insurance. We are very excited to bring transparency and digitization to such an important industry,” said Danish Yusuf, CEO.Zensurance was the recent winner of “The Next Big Idea in FinTech” competition, a program launched in partnership with BMO and the Ryerson DMZ. Zensurance was also named one of the Top 20 Innovative Technology Companies of 2016 by the Canadian Innovation Exchange.
“We are a technology company building helping small business customers get the best insurance coverage, purchased at their convenience, at highly competitive rates,” said Sultan Mehrabi, CTO of Zensurance.
“We see an enormous opportunity to re-imagine the way in which insurance is distributed to businesses by leveraging technology,” said Dominique Ferst, Managing Partner at Ferst Capital Partners.