Kayna raises €1 million
Irish insurance startup Kayna has closed a €1 million pre-seed funding round co-led by Delta Partners and MiddleGame Ventures, with participation from Aperture and InsurTech Fund.
The funding comes as the company accelerates market development efforts into the UK and US.
Founded in 2021, Kayna enables embedded insurance through vertical SaaS platforms. It was developed in the Founders Factory Venture Studio in collaboration with Aviva.
“We are delighted to have secured the support of such expert, innovative, and highly collaborative investors. 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.” – Paul Prendergast, CEO and co-founder of Kayna.
“Kayna ticked all the boxes for us. The team are proven, successful insurtech innovators and the Kayna solution is outstanding. As a versatile solution, top among its many strengths are its capacity to (a) use a platform’s data to boost revenue and render it even more valuable, (b) offer SMBs accurate insurance with a supported claims process, saving them time and money, and (c) unlock new distribution channels for Insurance carriers. It’s a winner on every level. We see a significant global market opportunity and look forward to the next steps.” – Maurice Roche, general partner at Delta Partners.