UK retailers are losing billions to product returns, a problem that costs the industry £27 billion a year. For furniture brands, the impact is disproportionate: high logistics costs, resale write-downs, and long lead times make every return far more expensive than in almost any other category.
Loxa, the FCA-authorised embedded insurtech, has raised £2.7m in Seed funding to scale the solution that is already changing that, embedding accidental damage protection where it matters most, at the moment of purchase.
“Furniture customers don’t lack the desire to protect what they buy; they lack access to protection where they’re actually shopping. Traditional schemes aren’t where the customer is,” says Jamie Hamer, Co-Founder & CEO, Loxa.
“We put protection at the checkout, and our partners see the difference immediately: Maker & Son reduced returns by 80%, and Rowen Homes has seen a 20%+ attach rate since going live last year. This investment lets us take that to every furniture retailer in Europe.”
Since launching in 2023, Loxa has grown to more than 45 live retail partners across furniture, eyewear, power tools, electronics, catering appliances and other categories, embedding with retailers like eCatering, Toolden, Hyundai Tools, Rowen Homes, Maker & Son, and JCB Pro Tools. Hundreds of further retailer conversations are ongoing with merchants who recognise the value of offering their customers comprehensive product protection at the point of purchase.
The fundraise also marks a step-change in what Loxa can offer retailers. As a full-stack MGA, Loxa can now build and launch insurance schemes tailored specifically to the needs of its retail partners and their products, rather than only suggesting off-the-shelf solutions.
Loxa’s technology connects natively to over 70% of UK ecommerce infrastructure via apps for Shopify, Magento, WooCommerce, PrestaShop, and BigCommerce, as well as direct API integrations. Loxa enables retailers to go live in as little as 48 hours, meaning the barrier to offering product protection has never been lower.
With the Seed round now closed, Loxa enters its next phase with both the capital and the leadership to execute at pace. Erjon Skora joined the business last year at a pivotal point as Co-Founder and Managing Director, bringing over 16 years of experience across MGAs, insurers, financial institutions, and online marketplaces, most recently as MD and Head of Insurance & Product, EMEA at Cover Genius.
His appointment reflects the ambition behind this raise: to build the defining embedded insurance platform for retailers across Europe.
“Closing the Seed is the starting gun, not the finish line,” added Erjon Skora, Co-Founder & Managing Director, Loxa.
“We’re heading into a Series A with traction, a clear European roadmap, and a system that onboards retailers in under 48 hours, integrates seamlessly, handles policy volumes at scale, and delivers an excellent claims experience. The next 18 months will define Loxa’s position in this market, and we intend to own it.”
Loxa is advised by board advisors Robin Leigh, Richard Smith, Kayar Raghavan, and Ross Lazaroo-Hood. The company extends its sincere thanks to all investors, advisors, partners and supporters who have backed its vision.
