Trakm8 wins £1.7m contract extension from Young Marmalade

Telematics and data firm Trakm8 has won a £1.7m contract extension from car insurer Young Marmalade to provide insurance telematics solutions.

The AIM-listed company will add to its initial provision of T10 micro hardware and data services to Young Marmalade for its young drivers insurance product, which was first announced in February 2015.

Trakm8 executive chairman John Watkins said: "We are delighted to extend this relationship as the range of services and demand increases. This contract provides additional visibility for our expectations for this financial year and beyond."