London-based insurtech company Wrisk has acquired Atto, a financial intelligence platform, to establish an integrated embedded finance and protection solution tailored to the automotive sector. The financial details of the transaction remain undisclosed.

Founded in 2010 and headquartered in Edinburgh, Scotland, Atto operates a platform that leverages transaction data, open banking credit scoring, income verification, affordability assessments, and behavioural analytics to enhance risk assessment and offer lenders deeper insights into their customers' spending, saving, and earning patterns.

The company shares on LinkedIn: "As part of the Wrisk group, we'll have a broader enterprise foundation to deploy our capabilities across new markets and use cases, while continuing to operate as a dedicated product and team with full ownership of our roadmap and client relationships."

Wrisk, led by CEO Nimeshh Patel, claims to be the only independent embedded insurance technology platform focused on the automotive original equipment manufacturer (OEM) sector.