Product protection insurtech Loxa has raised £2.7m in funding which it said would support expansion into European markets. The funding round was backed by angel investors, family offices and the Lazaroo-Hood Group. The firm was established in 2023 and enables retailers to offer product protection to customers at the point of sale through embedded technology.

Jamie Hamer, co-founder and chief executive of Loxa, said: “We started Loxa because we believed embedded product protection should be as universal as the checkout itself, available to every retailer, for every customer, everywhere.

“We made a deliberate choice to build this round with angels and operators who shared our mission and backed our vision from the start and that alignment builds better businesses. Closing this round means we can now deliver on that promise at scale, with the right people and resources to execute successfully.”

Loxa’s embedded insurance option is now live on 50 online retailers across furniture, tools, glasses, electronics, and catering equipment.