London-based insuretech Loxa has successfully closed a £2.7 million seed funding round, marking a significant milestone in its mission to expand its embedded insurance platform across the European retail market. The funding was secured in three separate tranches from a consortium of angel investors and family offices, with the Lazaroo-Hood Group leading the investment. Additional support came from the Angel Investment Network, FundMyPitch, and the Entrepreneur’s Collective.
Loxa's Role as a Full-Stack Managing General Agent
Operating as a full-stack managing general agent (MGA), Loxa designs bespoke insurance schemes for its partners under authorisation from the Financial Conduct Authority. The company provides insurance solutions for diverse product categories, including furniture, electronics, and power tools, at the point of sale. This approach helps merchants create new revenue streams by integrating seamlessly with major e-commerce platforms such as Shopify and WooCommerce, enabling merchants to go live within 48 hours.
Expanding Retail Partner Network and European Growth
Currently, more than 45 retail partners, including eCatering and JCB Pro Tools, utilise Loxa's system. With the new capital injection, management intends to increase the retail partner network to over 150 providers. The business has outlined ambitious plans to expand into the European Union, scaling its product protection services to meet growing demand. To oversee this next phase of operations, Erjon Skora, former managing director at Cover Genius, has joined the leadership team as co-founder and managing director.
Strategic Vision and Future Series A Ambitions
Jamie Hamer, co-founder and CEO of Loxa, emphasised the company's mission, stating, "We started Loxa because we believed embedded product protection should be as universal as the checkout itself, available to every retailer, for every customer, everywhere. We made a deliberate choice to build this round with angels and operators who shared our mission and backed our vision from the start, and that alignment builds better businesses. Closing this round means we can now deliver on that promise at scale, with the right people and resources to execute successfully."
Erjon Skora added, "Closing the Seed is the starting gun, not the finish line. We’re heading into a Series A with traction, a clear European roadmap, and a system that onboards retailers in under 48 hours, integrates seamlessly, handles policy volumes at scale, and delivers an excellent claims experience. The next 18 months will define Loxa’s position in this market, and we intend to own it." The firm aims to position itself for a future Series A funding round following this period of anticipated expansion, leveraging its enhanced capabilities and market presence.
