Former Westpac chief executive Brian Hartzer and the family of billionaire John Gandel are among new investors in a start-up trying to disrupt a commercial insurance industry that is dominated by two major brokers.
UpCover was founded in 2019 and has raised almost $20 million in debt and equity, giving the company a valuation of around $45 million. It is run by Skye Theodorou, a lawyer and insurance professional, and Anish Sinha, who was an executive at a Sequoia Capital-backed start-up and an equity analyst at Goldman Sachs in India before migrating to Australia.
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Tess Bennett is a technology reporter with The Australian Financial Review, based in the Brisbane newsroom. She was previously the work & careers reporter. Connect with Tess on Twitter. Email Tess at tess.bennett@afr.com
