Travel and fintech startup Battleface has won the backing of Drive Capital in a Series A round to the tune of $12 million.
The round comes 18 months after the U.S.-based company secured an undisclosed seed investment from Greenlight Re Innovations and Fintech Ventures Fund in January this year.
The Series A will be used to establish a headquarters for the company in Columbus, Ohio, as well as fund its growth strategy and market expansion.
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In particular, Battleface will work on building custom products for partners and white label services, allowing travel providers to sell insurance products to customers.
Unsurprisingly the company has experienced an "unprecedented year" in the midst of the coronavirus pandemic, with travelers turning to insurance providers to protect them during the crisis.
CEO Sasha Gainullin, who created the business after previously developing insurance operations for AIG Travel Guard, says: "When we started Battleface, we set out to make travel insurance relevant to our customers, simple to buy and accessible for everyone in the world.
"Our growth since then has significantly surpassed our initial expectations, and this funding will help us bring travel insurance to millions more as we continue to build our traveller focused global insurance platform."