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25th June 2021

Road safety app RoadHow gains £500,000 MEIF investment

Solihull based RoadHow, an app designed to help drivers to become safer and more aware on the road, while potentially saving them money on their insurance, has secured £500k from Midlands Engine Investment Fund (MEIF) WM Equity Finance Fund, managed by venture capital firm Midven (part of the Future Planet Capital group).

The software platform and app, which has been in development for two years, can be used by motorists to test their driving knowledge and aid further learning. Insurers will be able to review and monitor the data collected and offer incentives or discounts on car insurance, adding a new set of data into the insurance pricing and underwriting decision making process.

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