$4.8m · Seed · Fintech · London, UK
Nettle has raised a $4.8m Seed round led by MTech Capital, with Project A Ventures, Sure Valley Ventures, Portfolio Ventures and Ventures Together participating. The London-based insurtech will use the capital to expand across the US and Europe and grow its engineering and go-to-market teams.
Turning inspection evidence into underwriting data
Commercial insurers use loss-control engineers to inspect properties and operations before and during a policy. The work combines site visits, photographs, audio, documents and specialist judgement, but the output is often fragmented and slow to reach underwriters. Nettle brings risk identification, guided evidence capture, analysis and report generation into one AI workspace, producing structured findings that underwriters and risk teams can use across the policy lifecycle.
The product’s commercial promise is capacity. Nettle says customers can complete inspections five times faster, while agents and policyholders can collect guided evidence from sites that would not justify a specialist visit. That creates a route to covering more of an insurer’s portfolio without adding risk engineers at the same rate. It also changes the product from a report-writing assistant into an operating layer: the more consistently an insurer captures evidence, the easier it becomes to compare risks, prioritise follow-up work and show whether recommendations were addressed.
Enterprise adoption is the real test
Nettle says Allianz and Brotherhood Mutual use the platform across Europe, the US and Asia, and that it supports cloud or on-premise deployment, regional data residency and enterprise security. Those details matter because the buyer is not adopting a standalone productivity app. The workspace has to fit existing risk-engineering and underwriting processes while preserving judgement, auditability and sensitive client data. Minimal integration may help deployment, but repeatable adoption will depend on whether carriers make the resulting evidence part of their everyday risk decisions.
The company was founded in 2024 by former QuantumBlack colleagues Jack Miller and Katya Kinane. Project A’s original investment thesis framed the opportunity around an ageing specialist workforce, assessment backlogs and the need to preserve industry knowledge rather than replace experts. The new round, which takes total funding to $6.8m, gives Nettle more room to prove that thesis across markets. An insurance-specialist lead investor also brings a relevant network, but the durable signal will be broader production use beyond the pilots and named customers already disclosed.
Sources checked:
Nettle company announcement · Project A investment thesis · The Cap Table · Tech.eu Funding Explorer
