Carbon Underwriting Limited (“Carbon”), the market leading delegated authority underwriting specialist with its own Lloyd’s syndicate, is pleased to announce that it has signed an agreement for a significant growth equity investment from FTV Capital (“FTV”), a global sector-focused growth equity firm with a strong track record of investing in high-growth financial technology and services companies.
The years 2023-2026 have seen Carbon experience an exceptional period of growth with premium increasing from £150m to £471m at market-leading loss ratios; a growth trajectory that demonstrates the value and further potential of Carbon’s business model. This investment will accelerate Carbon’s growth across its delegated underwriting platform, fund continued development of its proprietary Graphene data and analytics technology, deepen its AI capabilities and support the company’s international expansion, including the build-out of its US business.
The transaction was led by Mike Vostrizansky, Richard Earnshaw and Max Weber from FTV. Carbon will benefit from FTV’s Global Partner Network®, a strategic group of more than 600 executives from many of the world’s leading enterprises, and FTV Propel®, the firm’s in-house team of seasoned operators, to accelerate execution across product, go-to-market and organisational scaling.
Carbon will continue to operate independently, led by its existing management team and buil