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November 10, 2023

London Insurtech Nets $2M in Seed Funding, Revolutionize the Insurance Landscape

Diesta, has triumphantly sealed a $2 million seed funding round, backed by an all-star cast including Restive, and more

In a resilient insurtech sector, London-based startup Diesta has sealed the deal with a whopping $2 million in seed funding. The round boasts a stellar lineup of backers, including Restive, SixThirty, Antler, SystemaNova, and Westerly Ventures, fueling Diesta's mission for further product development and sector-wide expansion.

While the fintech sector faced a downturn with funding nearly halving in the first half of 2023, insurtech emerged as a beacon of opportunity, valued at a staggering $7 trillion by Dealroom. Diesta, at the forefront of this wave, sets its sights on enhancing operational efficiency, particularly in tackling the $32 billion annual cost within the insurance payment reconciliation chain. With a bold ambition, Diesta aims to slash these industry costs by a whopping 75%.

Julian Schoemig, a German engineer and former Munich Re stalwart, along with South African IT security expert Christopher Davis, leads the charge. Their firsthand experience with industry challenges fueled the creation of Diesta, a platform poised to revolutionize legacy practices costing insurance companies millions.

Ollie Purdue, Partner at Antler, anticipates Diesta's pivotal role in insurtech's growth story, envisioning the startup as a crucial player in London's emerging insurtech talent pool.

Diesta enters the scene as a disruptive force, aiming to modernize an age-old industry plagued by outdated technology. With a focus on streamlining global premium processes, Diesta's ambition knows no bounds. The freshly injected funds will power product development, propelling Diesta's scalability and enabling the capture of a significant share in the UK premiums market.

The insurtech revolution is underway, and Diesta stands ready to reshape the insurance landscape with its cost-effective and innovative processes. The $2 million seed funding marks a significant milestone, propelling Diesta into the forefront of insurtech transformation.

Josefina Dipaolo
Josefina Dipaolo
Content writer at TechNews180
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