Policy administration and distribution platform Instanda has secured $30 million in its latest funding round, allowing the business to accelerate global expansion plans.

The funding was led by German fintech specialist CommerzVentures, alongside backing from Toscafund, Dale Ventures and former Hiscox CEO and company adviser Bronek Masojada.

London-based Instanda’s growth plans include expansion in Australia, New Zealand and the wider Asia-Pacific region.

Instanda says it taps into key market shifts, including artificial intelligence in underwriting and claims, no-code platforms that help insurers and underwriting agencies rapidly launch new propositions, and the leveraging of real-time data insights.

“We have always sought to invest in technology companies that are making a positive impact within their sectors,” CommerzVentures managing partner Patrick Meisberger said. “Instanda represents one such opportunity, and we are pleased to be part of this important stage in its journey.”

The latest round brings total funding to more than $85 million.