Loxa, the London-based InsurTech previously known as Bolt Cover, has secured £1.69m in a seed funding round backed by almost 60 angel investors. The raise will enable the company to complete its tech stack, scale integrations with websites and EPOS systems, and launch new direct-to-consumer upsell offerings — starting with a dedicated power tool protection scheme.
Loxa provides product protection cover at checkout for repairable items such as furniture, eyewear and tools, positioning itself as a scalable alternative to traditional home insurance. Its goal is to become the UK’s leading provider in the B2B2C product protection market across all consumer categories by 2026.
The round was supported by the Angel Investment Network, which contributed £125,000, alongside other platforms including FundMyPitch. The nine-month process involved over 400 investor conversations, the conversion of an ASA, multiple business pivots and contributions from the founder’s personal network, with more than £750,000 raised through referrals alone.
Founder Jamie Hamer shared that over 30 investor presentations generated £450,000 in commitments and that listing on investor platforms led to over £500,000. The funding process, while intensive, sharpened the business proposition and materials, ultimately securing a strong group of backers to support Loxa’s path to profitability.
The capital will now be used to fuel product development, strengthen partnerships with UK retailers, and deliver a repair-first insurance proposition aimed at increasing value for both consumers and merchants.
