£2 million investment helps fuel growth for ThingCo in 2025

London, 30th July 2025: To support the continued growth of telematics insurtech ThingCo during a pivotal year for the business, existing shareholder BHL (UK) Holdings Limited has invested a further £2 million. This significant injection of capital underscores BHL's confidence in ThingCo's innovative technology and its trajectory in the rapidly evolving telematics market.

BHL (UK) Holdings is the majority owner of comparethemarket.com. Within its wider group and affiliated businesses, BHL boasts more than 8.5 million customers and significant business interests spanning South Africa and Australia, bringing substantial strategic backing and market insight to ThingCo.

Mike Brockman, telematics pioneer and CEO of ThingCo, commented:
"This additional investment from BHL (UK) Holdings is a powerful endorsement of our vision and the progress we've made. 2025 is a pivotal year for ThingCo, marked by aggressive revenue growth targets and the continued delivery of tangible benefits to our insurer partners, such as the substantial loss ratio reductions we're already achieving. This capital will enable us to accelerate our product development, expand our market reach, and further solidify our position as a leader in telematics innovation."

Ian Leech, Chief Executive of BHL (UK) Holdings, added:
"Our continued investment in ThingCo reflects our strong belief in its technology, its leadership, and its immense potential within the insurtech landscape. ThingCo's ability to drive significant loss ratio reductions and its impressive growth trajectory, highlighted by the recently renewed Acorn Group contract and projected doubling of revenue, ensure it remains a compelling proposition. We are excited to support ThingCo as it enters this crucial phase of expansion and continues to revolutionise the telematics sector."

2025 is on track to be transformative for ThingCo, with the company expecting to more than double its revenue. This growth is underpinned by recent successes, including the three-year renewal of its key contract with Acorn Group. ThingCo also continues to demonstrate its value by achieving significant loss reductions for insurers, leveraging its advanced telematics data and analytics to drive better underwriting and claims outcomes.