Driverly, a Cardiff-based technology business specialising in insurance intelligence solutions, has successfully secured equity funding in a deal advised on by GS Verde Group.
Established in 2021 and headquartered in Cardiff, Driverly is a global company with its co-founders based in UK, Spain, and Australia.
The insurtech company provides a no-code configurable AI-powered app and geo-intelligence solutions to car insurers. The company’s app is designed to promote safer driving through gamification and measure driving behaviours such as braking, cornering, acceleration, speed, and mobile phone usage.
By creating solutions to help entities – including fleet operators – to better manage the operational risk connected with driving performance, Driverly strives to reduce accidents and contribute to making roads safer.
Nestor Alonso, Co-Founder and Chief Data Officer of Driverly, said: “We promote safe driving and help businesses for whom safe driving is important achieve safer driving among their pool of drivers, whether those are customers, employees, or partners.”
“The company’s mission is to provide geo-behavioural data to car insurers to help them select and price risk more accurately. Our vision is to have a world with safer roads via the incentivization of safe driving.”
2024 was a pivotal year for Driverly as it acquired its first customer in the first half of the year in addition to making a transition from a pre-revenue business to a post-revenue business.
The latest round of funding is an instrumental milestone for Driverly and will enable the business to accelerate its growth, expand its client base within the UK and around the world, and continue developing its innovative solutions aimed at enhancing road safety.
On the success of the funding, Nestor said: “Our ultimate goal is to execute the business plan and to build a healthy business. A healthy business means a business that is financially healthy and has happy customers.”
As a result of having a positive experience with GS Verde Group’s legal and financial expertise on this latest investment round, Nestor commented: “We found GS Verde a great company to work with. We chose GS Verde because of the experience with the people, the cost and the service obtained, it was to our understanding, the best balance. Their dedication made a complex, multi-investor process much easier.”
Nestor continued: “We are very happy with the team and we are looking forward to working with them on future projects.”
