CUVVA, a short -term rapid automobile insurance supplier, wrote advisers to explore a sale a decade after its foundation.
Sky News learned that Cuvva hired Perella Weinberg Partners in the interest of potential buyers following a series of unsolicited approaches.
Sources have indicated that a sales process should start in the coming months.
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Cuvva has sold more than 13 million policies since its launch in 2015 and has registered in the region of 1.4 million customers.
The company is chaired by the city of the city Bruce Carnegie-Brown, which recently resigned from its post as president of Lloyd’s in London.
According to the company, around 7% of the total monthly car policies in the United Kingdom are now sold via the CUVVA application.
Based in London, it employs around 100 people.
Responding to a Sky News investigation, Cuvva said: “After the financial results of CUVVA recently published in 2024 – highlighting a record year of growth and tripleti – we have since received a large amount of incoming interests.
“As such, in the best interest of our business and our shareholders, we will explore them to see if we can find the right adjustment for our future ambitions and the next growth step as Cuvva matures.
“As a strong growth company which continues to have enormous success and profitability.
“We will always consider all our options for interested parties – the priority is to ensure that we provide the best value for our shareholders and CUVVA.”
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The company has collected more than 20 million pounds sterling of investors, including Localglobe, the main funder for starting businesses.
Last year, he tripled the adjusted profit to 12.8 million pounds Sterling on a turnover of 27.4 million pounds sterling, driven by customer retention and high short -term car insurance demand.
Cuvva claims that about one driver on three 21-29 years in Great Britain has downloaded its application.
Friday, its potential valuation in a sale was not clear.