Insurtech Embea has accomplished its seed funding spherical, gaining €4m ($4.3m) to construct a pan-European embedded life insurance coverage platform.
The funding spherical for Embea was led by Atlantic Labs, a Berlin-based seed fund, and astorya.vc, an skilled in investing in European insurtech.
Embea is without doubt one of the first corporations to utilise embedded insurance coverage from masking devices to providing life insurance coverage safety.
Additionally, as an alternative of shopping for by way of brokers or a web site, people and households can get protected by way of only a few clicks in non-insurance actions, like reserving journey.
Moreover, Embea will use the funding to develop its pan-European embedded life insurance coverage platform and add merchandise to the portfolio. The insurtech has the objective of turning into the primary selection B2B platform for digital companies lively in a number of European markets.
Investor and founding accomplice of astorya.vc, Florian Graillot, expressed his enthusiasm and stated: “Embea designed its software program platform from the bottom up for embedded distribution. Coupled with its progressive method to creating light-weight, inexpensive insurance coverage merchandise inhouse, Embea marks a big development on this area.”
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Co-founder and CEO of Embea, Dr Johannes Becher, added: “We’re delighted to have secured this funding displaying that the way forward for insurtech is much from lifeless. By taking life insurance coverage embedded, we allow underserved teams to entry existential protection whereas serving to our companions to generate extra revenue.”
European insurtech was backed by 331 particular person supporters in 2023 with techstars having essentially the most offers with 5.
techstars supported European insurtech equivalent to Sprout.ai, a sophisticated claims automation machine, and Fluffy, a supplier of pet insurance coverage that favours the conscientious.
