Banking and Finance

Jewellery Quarter based agency is acquired by fast-growing InsurTech start-up

Guillaume Piot – Founder of Cotidia Lleft) and Guy Farley – CTO of Bought By Many (Right)

It’s a wrap for Cotidia, as their team of designers and developers have joined forces with London-based insurance start-up Bought By Many, to become their new tech hub here in Birmingham.

The software development agency, Cotidia, was founded by Guillaume Piot in 2012. The team grew from one to six people building cutting-edge web applications enabling digital transformation to both local and international businesses in Europe and the US.

Bought By Many is a fast growing insurance technology business. The company currently specialises in selling pet insurance. They are backed by venture capital, having raised nearly £30m of equity to date with the most recent fundraise was a Series B last June when they raised £15m from CommerzVentures, Octopus Ventures, Munich Re and Marsh Inc

Today the company has over 100,000 policy holders, is selling over £4m of insurance premiums monthly and has almost 100 staff over 3 sites (now including Birmingham). In September, the start-up was ranked #13 in the Sunday Time Techtrack 100 fastest growing tech businesses.

Having worked closely together for the past two years, the acquisition, or in more common terms “acquihire”, of Cotidia by Bought By Many was an unmissable opportunity.

We are thrilled to be able to focus all our skills and experience on delivering innovative insurance products to soon to hundreds of thousands of customers. – Guillaume Piot

Birmingham has a thriving tech community which has made this acquisition a tactical choice. This is an amazing opportunity, as we’re growing the team to be able to attract local talents and create more tech jobs in the city. – Guillaume Piot