Loxa secures £2.7m in seed round

Loxa, an InsurTech firm specialised in embedded product insurance for the watch and jewellery sector, has announced it has raised £2.7m in seed funding.

Founded in 2023 and headquartered in London, the company enables jewellery and watch retailers to offer accidental damage and theft protection to customers at the point of purchase, both in-store and online.

Loxa said it is filling a dangerous gap in coverage, as watch and jewellery theft is on the rise. Over one year, insurer Aviva reported a 43% rise in high-value jewellery claims, while The Watch Register said 50,000 watches have been reported stolen since 2019.

With its newly raised funds, Loxa said it can develop and release insurance programs tailored to the needs of specific retail partners and their products, rather than only suggesting off-the-shelf solutions.

The business’ technology integrates natively with more than 70% of the UK’s ecommerce infrastructure through apps for Shopify, Magento, WooCommerce, PrestaShop, and BigCommerce, as well as direct API integrations, allowing retailers to launch in as little as 48 hours.

Since its establishment, the firm has partnered with over 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 and Son, and JCB Pro Tools.

Jamie Hamer, Loxa co-founder and CEO, said: “Jewellery and watches are among the most personal and valuable purchases a customer makes and among the least protected. The cover gap isn’t just about theft. It’s about the moment of purchase: customers walk out of a jeweller or watch retailer with no protection in place, because no one has ever put it there.

“Loxa builds that infrastructure, embedding accidental damage and theft cover directly at the checkout, for every retailer in the category. This investment takes that to every jewellery and watch retailer in Europe.”

Loxa co-founder and managing director Erjon Skora added : “Closing the Seed is the starting gun, not the finish line. 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.”

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