£60m GWP broker secures £8m investment for UK expansion

Commercial broker Konsileo has raised £8m as it looks to further expand in the UK.

The money, which is a mixture of debt and equity financing, will be used the help the firm add to its team of 160 staff and continue technology development.

It will also look to enhance its placement, data capture and eTrade platforms.

The investment comes following the business growing by two thirds over the last 12 months, with it now placing over £60m in gross written premium (GWP) on a run-rate basis.

John Warburton, co-founder and chief executive at Konsileo, said: “Konsileo is going from strength to strength. Putting brokers at the heart of our organisation – and designing the best working practices and technology to support them to do their best work for their clients – resonates with talented professionals and clients alike.

“This latest investment gives us additional firepower to keep growing our award winning commercial broking organisation.”

Fundraise leaders 

The fundraise was led by long-term shareholders Committed Capital, together with ACF Investors and Growth Lending.

Committed Capital chief executive Steve Harris said: “Konsileo has become a rarity in the commercial insurance broking sector.

“It has delivered strong organic growth on a highly capital efficient model. It has reached scale without acquisitions and without compromising on integrity and culture.

“We think the company is poised to deliver strong revenue growth over the foreseeable future.”

Tim Mills, managing partner at ACF Investors, added: “Konsileo is transforming commercial broking by bringing much needed innovation to the market. Its scalable platform approach puts cutting-edge product tools in the hands of brokers and allows the company to deliver outstanding results for its clients.

“Since our initial investment in 2022, the business has shown strong growth and we look forward to working with Warburton and the team to support this next phase of expansion.”