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Pikl

Norwich-based Pikl is an insurtech start-up which is focussed on the sharing economy market. Pikl was set up to provide insurance to the airbnb market and were one of the first companies worldwide to provide insurance products for that marketplace

Business Office

Sector

InsureTech

Louise Birritteri

First pitched to ACG

2018

Analyzing Graphs

Amount raised through ACG

£327,000

Norwich-based Pikl is an insurtech start-up which is focussed on the sharing economy market. Pikl was set up to provide insurance to the airbnb market and were one of the first companies worldwide to provide insurance products for that marketplace. The team approached Anglia Capital Group in 2018 and were successful in securing £327,000 equity capital through the group and our partners at, including New Anglia Capital (backed by New Anglia LEP).

Founder and CEO, Louise Birritteri has had a 20-year career in the insurance sector and it was during this time, when she was required to travel a lot for work that she spotted a gap in the market. Louise spent a lot of time staying in AirBnB lets and realised that there was a need for insurance specifically for the sharing economy.

Working with her industry colleagues, Louise and her team got to work building the business in 2016. Over the next two years they worked on building a product, securing the necessary underwriting capacity and piloting the product in the market. After several months proving the concept, the team decided they were ready to pitch for angel investment to enable them to grow the business with additional employees and marketing budget.

“Pitching at the ACG event was a really welcoming environment, the angels at ACG were very supportive and keen to work with local businesses. We were fortunate in receiving investment from several of the ACG angels. It was my first ever live pitch and although nerve-wracking it was a great experience.” Louise Birritteri, CEO & Founder, Pikl.

 

 

 

 

 

 

 

 

 

 

 

 

Pikl went on to raise further funds and brought Sir Peter Wood, the founder of Direct Line, on board as a shareholder and advisor. Input from angel investors has been vital for Pikl’s development and success to date.

Louise Birritteri “I’ve been lucky to get lots of angel investors with lots of different areas of expertise so if I have a problem I know who to call for help and advice. The support and introductions I’ve received from our angel investors has been invaluable to the business”

 

Pikl have recently seen fantastic success through partnerships with Go Compare, Confused.com and Sykes Cottages. The company is growing 300% year on year, has already insured over 2.5 million nights on Airbnb and are heading towards a £1 million net revenue run rate. With a planned Series A raise coming up in Autumn 2022 and plans to move into the growing shared mobility market, the team are looking forward to a busy time ahead.

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment, and you are unlikely to be protected if something goes wrong. Take 2 mins to learn more.

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