Digital commercial insurance platform Aurora has secured an additional £2.5m in funding to accelerate its Algorithmic Trading proposition. The sum is made up of support from Innovate UK, the UK’s national innovation agency, and an equity raise.

Jan-Vincent Finn, co-founder and chief executive if Aurora, said: “We’re proud to have Innovate UK as a partner. The criteria and benchmark for support from Innovate UK is incredibly high. Their support is reflection of our team’s effort to provide significant value to insureds and their brokers. This funding will support our continued development of innovative solutions for UK businesses.”

Scott O’Brien, chief investment officer at Innovate UK, added: “Supporting innovative companies like Aurora on their journey from concept to commercialisation, scale and growth is central to Innovate UK's mission and purpose.

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