i23, an AI-driven insurance broking start-up founded by ex-City minister Bim Afolami, secures $5.5m in seed funding led by Outward VC, Seedcamp, and Insiders VC.
Amount Raised
$5.5 Million
Round Type
Seed
United KingdomArtificial IntelligenceInsurtechInsuranceInvestors
Description
i23, an AI-driven start-up founded by former economic secretary to the Treasury Bim Afolami and PrimaryBid co-founder Anand Sambasivan, has raised $5.5m in an oversubscribed seed round. The funding was led by UK-based venture capital firms Outward VC, Seedcamp, Insiders VC, and Four Cities Capital. The company is developing an agentic operating model to handle routine administrative work for insurance brokers while boosting revenue generation. i23 plans to acquire an existing insurance broker in the coming months.
Quick answer
i23 raised $5.5 Million in a Seed round, dated October 28, 2026. Investors: Four Cities Capital, Insiders VC, Outward VC and Seedcamp. i23 is based in United Kingdom.
- How much did i23 raise?
- i23 raised $5.5 Million in a Seed round on October 28, 2026.
- Who invested in i23?
- Four Cities Capital, Insiders VC, Outward VC and Seedcamp are named as investors in this round.
- What does i23 do?
- i23 is an AI-driven insurance technology start-up that develops an agentic operating model to handle routine administrative work for insurance brokers while boosting revenue generation.
- Where is i23 based and how big is it?
- i23 is based in United Kingdom.
Source: Fundz verified event record.
Who else raised in Insurtech and Insurance around the same time
Companies in the same sectors as i23 that raised within 45 days of this round, from Fundz verified event records.
- Stitch Studio raised $8M on November 11, 2026.
- Ancep raised $8.5M on November 10, 2026.
- i23 raised $6.6M (Seed) on November 4, 2026.
- LTY raised an undisclosed amount on October 26, 2026.
- Slingshot Insurance raised $27M (Seed) on October 22, 2026.
- SecondSight raised an undisclosed amount (Series A) on October 7, 2026.
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