Telematics technology provider The Floow has received £13 million equity investment that it hopes will further accelerate the company’s momentum and global growth.
The announcement sees China-based investment group Fosun put forward the majority of the funds, with investors United Electronics Co, and Direct Line Group also involved in the transaction.
The Floow is one of the largest independent computer and data science organisations in the global telematics industry focused on individual mobility.
Aldo Monteforte, CEO of The Floow, said: “Just five years from its foundation The Floow is now a leading provider of telematics data services to the global insurance industry, and today my management team and I are proud to have reached agreement for the completion of a meaningful financial investment that is aimed at accelerating the company’s momentum and global growth.
“This is a major milestone in our journey.”