Kayna aims to reshape SMB insurance after landing €1m investment


Kayna, the embedded insurance infrastructure platform, has successfully secured a €1 million pre-seed funding round. 

The recent funding was co-led by Delta Partners, based in Ireland, and pan-European firm MiddleGame Ventures. Notably, participation was seen from Aperture, a Swiss entity, and the InsurTech Fund, an affiliate of the renowned InsurTech NY based in the USA. This investment coincides with Kayna’s ambitious market expansion plans into the United Kingdom and United States.

The core competence of Kayna lies in its unique provision of technology and data orchestration. This bridges the divide between insurance carriers, brokers, and varied vertical software-as-a-service (SaaS) platforms. The essence of Kayna’s offering revolves around fuelling the growth of vertical SaaS providers, while simultaneously ensuring relevant insurance reaches the underserved SMBs. In the present-day scenario, the vertical SaaS market is bustling, catering to millions of diverse business and consumer needs. InsTech London projects that by 2030, embedded insurance is slated to amass an impressive US$722bn in gross written premium.

A distinguishing feature of Kayna’s platform is its adeptness at tracking pertinent data shifts. This ability facilitates insurers and brokers to perform instantaneous reviews of insurance coverage, adjusting policies in real-time to resonate with the unique requirements of SMBs.

Kayna’s CEO and co-founder Paul Prendergast said, “Vertical SaaS has already embraced embedded fintech through payments and capital lending. Embedded insurance is the logical next step, offering transformative advantages for vertical SaaS platforms, enabling them to enhance the customer experience, expand revenue streams, mitigate risks and differentiate themselves in the market, whilst delivering real value to their SMB customers. This funding is already powering our new business development and partner onboarding in the UK and US markets so we have hit the ground running and are hugely excited by the potential.”

Maurice Roche, General Partner at Delta Partners, shared his enthusiasm, stating, “Kayna ticked all the boxes for us. The team are proven, successful insurtech innovators and the Kayna solution is outstanding. We see a significant global market opportunity and look forward to the next steps.”

Further support came from MiddleGame Ventures Partner, Kanishk Walia, who added, “SMBs continue to be underserved and underinsured by traditional insurance offerings and we believe Kayna is well positioned to change this.”

To provide a glimpse into the inception of Kayna, the firm was brought to life in 2021. The founders, Paul Prendergast and CTO Peter Bermingham, have had a prolific journey, scaling multiple insurtech ventures over a partnership spanning nearly two decades.

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