Loxa raises £2.7m to design the cover it sells at checkout

On 13 March Loxa, a London company that puts accidental damage cover into retailers’ checkouts, announced that it had closed a £2.7m seed round, raised in three tranches. As first reported by BusinessCloud, the money came mainly from angels and family offices, including the Lazaroo-Hood Group, with introductions from Angel Investment Network, FundMyPitch and the Entrepreneur’s Collective.

Loxa says it will spend the money on expansion into the EU, on growing from more than 45 live retail partners to 150 and on widening its platform to every insurable product category. It also says it now operates as a full-stack managing general agent (MGA), which means it can build insurance schemes for individual retailers and their products instead of only offering off-the-shelf cover.

Since its launch in 2023 Loxa has been a distribution business: software that drops a protection offer into a retailer’s checkout, backed by established insurers. As an MGA it takes on the design of the cover as well.

The seed round pays for that change of role, from plugging other insurers’ products into retailers’ checkouts to writing schemes around each retailer’s stock. How many retailers want that will decide how quickly it reaches 150 partners.

From property news to product cover

Jamie Hamer, co-founder and CEO, came to insurance from publishing. He co-founded React News, a real estate news service, and sold it in 2022, according to the company’s announcement of an earlier stage of funding, reported by Beinsure in July 2025. Before that he worked in sales for Procter & Gamble, Acuris and Gartner.

Companies House records show the company was incorporated on 10 February 2023 as Bolt Warrantee Ltd, renamed Bolt Warranty Ltd within a month and renamed Loxa Ltd in April 2025. It previously traded as Bolt Cover. Hamer, a director since incorporation, holds more than half of the shares and voting rights, according to the register of persons with significant control.

Hamer said Loxa was started because embedded product protection “should be as universal as the checkout itself”, in comments quoted by BusinessCloud. His co-founder and managing director, Erjon Skora, joined in 2025 after more than 16 years across MGAs, insurers, financial institutions and online marketplaces. He was previously managing director and head of insurance and product for EMEA at Cover Genius.

The company names four board advisors: Robin Leigh, Richard Smith, Kayar Raghavan and Ross Lazaroo-Hood. Smith has also been a director since June 2023, according to Companies House, and Victoria Hutchinson sits alongside him and Hamer on the board, according to the accounts filed in February.

How the checkout product works

Loxa’s customer is the retailer. The retailer’s own customer buys the cover for an item at the point of sale, online or in store, and Loxa works with established insurance companies to provide it, Startups Magazine reported in May 2025. Loxa connects through apps for Shopify, Magento, WooCommerce, PrestaShop and BigCommerce, as well as direct API integrations, and says a retailer can go live in as little as 48 hours.

The retailers it names are eCatering, Toolden, Hyundai Tools, Rowen Homes, Maker & Son and JCB ProTools, and it says it has more than 45 live retail partners in all.

Its accounts for the nine months to 31 December 2025, filed at Companies House on 25 February, show a small company: £422,428 cash at bank and an average of nine employees, including directors.

What the MGA role changes

In May 2025, when it reported a £1.69m seed round that included £125,000 through Angel Investment Network, Loxa said the money would complete its technology stack, extend integrations with websites and EPOS systems and strengthen its direct-to-consumer upsell offerings, starting with a power tool scheme. It also said it aimed to offer a product-specific alternative to traditional home insurance.

Three of the six retailers Loxa now names sell tools, and power tools sit alongside furniture, eyewear, electronics and catering appliances among the categories its 45-plus partners cover. As an MGA, Loxa says it can now build schemes for each of those partners and their products, rather than only suggesting off-the-shelf cover.

Skora described the seed as the starting point for a Series A, saying in comments reported by BusinessCloud that Loxa goes into that round with traction, a European roadmap and a system that onboards retailers in under 48 hours. He said the next 18 months would define its position in the market. The company has not said which EU countries it will enter first or how its tranches were split.

Loxa reaches its Series A with power tools as its clearest foothold and a scheme-design role it took on only with this round. With more than 45 partners and an average of nine staff in the nine months to December, the climb to 150 partners on schemes it writes itself is the test of whether retailers want more from it than a button at checkout.