Berlin-based Embea has successfully concluded its seed funding round, securing a remarkable €4m.
This round saw the participation of leading investors including Atlantic Labs, a Berlin-based seed fund renowned for its strategic investments, and astorya.vc, known for its focus on European InsurTech startups, according to a report from EU-Startups.
Additionally, the funding round attracted attention from notable figures in the tech industry such as Jamie Hale, the pioneering CEO of Ladder, Daniel Khachab of Choco, and Michael Cassau from Grover, marking a milestone in Embea’s journey.
Embea stands out as an innovator in the realm of embedded insurance, distinguishing itself by extending this burgeoning trend beyond gadget coverage to include life insurance protection. This approach allows individuals and families to secure life insurance through simple additional clicks during various non-insurance related activities, such as booking travel or taking out loans, thereby embedding insurance seamlessly into daily life.
The company’s mission is to empower digital platforms, especially digital banks and other FinTechs, to augment their earnings from existing users amidst the challenging venture capital landscape. Through its no-code, highly customizable embedded checkout technology, Embea enables effortless integration of life insurance offerings into platforms, creating a new revenue stream for these entities within days.
Co-founder and CEO of Embea, Dr Johannes Becher, said, “We are delighted to have secured this funding showing that the future of insurtech is far from dead. By taking life insurance embedded, we enable underserved groups to access existential coverage while helping our partners to generate additional income.”
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