Chartered commercial broker Konsileo announced it has completed a £8 million fundraising to accelerate its expansion across the UK. And Konsileo specialises in mid-market advised sales for small, medium and mid-corporate businesses from construction and logistics firms, to farms to recycling plants. It has grown to employ 160 people across the UK.
Konsileo was designed to avoid layers of middle management that do little to add value to clients or colleagues and replaced it with structures that support self-management and collaboration. And the company’s proprietary technology platform has enabled the organization to scale up with a radically different organizational model without additional layers of the corporate hierarchy. For instance, it facilitates brokers with different specialisms to team up and agree directly on how to divide the work and benefits and embeds real-time compliance checking.
The company’s placement platform supports brokers in searching the whole of the insurance market for the best quote for their clients, rather than being led by a management diktat on preferred placement partners. And its data capture and e-trade platform assists its brokers to present insurers with a more detailed view of the client.
Over the last year, Konsileo has grown by two-thirds to become a £12m brokerage, placing in excess of £60 million GWP on a run-rate basis. The £8 million funding is a mixture of debt and equity financing led by long-term shareholders Committed Capital and ACF Investors Growth Lending, a specialist growth finance provider.
The funding will be used to continue its recruitment of broking professionals and technology development.
KEY QUOTES:
“Konsileo is going from strength to strength. Putting brokers at the heart of our organization – and designing the best working practices and technology to support them to do their best work for their clients – resonates with talented professionals and clients alike. This latest investment gives us additional firepower to keep growing our award-winning commercial broking organization. We’re delighted to have the support of Growth Lending, Committed Capital, and ACF investors.”
– John Warburton, co-founder and CEO
“We are pleased to support Konsileo as it continues on an exciting growth journey. The firm stands out for all the right reasons, with a clearly differentiated proposition in a thriving commercial broking market alongside proprietary technology that underpins its growth strategy. This, plus a strong and ambitious management team and supportive equity investors, is a winning combination.”
– Kimberly Martin, Managing Director at Growth Lending
“Konsileo has become a rarity in the commercial insurance broking sector. It has delivered strong organic growth on a highly capital-efficient model. It has reached scale without acquisitions and without compromising on integrity and culture. We think the Company is poised to deliver strong revenue growth over the foreseeable future. We’re delighted with progress and proud to continue our support of the business.”
– Committed Capital Chief Executive Steve Harris
“Konsileo is transforming commercial broking by bringing much-needed innovation to the market. Their scalable platform approach puts cutting-edge product tools in the hands of brokers and allows the company to deliver outstanding results for its clients. Since our initial investment in 2022, the business has shown strong growth, and we look forward to working with John and the team to support this next phase of expansion.”
– Tim Mills, Managing Partner, ACF Investors
