Delta Partners and MiddleGame Ventures invest €1M in Irish insurtech startup Kayna

Kayna, an Irish insurtech startup, raises €1M in Pre-Seed funding for expansion in the US and UK.
Delta Partners and MiddleGame Ventures invest €1M in Irish insurtech startup Kayna

Kayna, a Cork, Ireland-based embedded insurance infrastructure startup has raised €1 million in a Pre-Seed funding round. The investment will be used to help the company’s expansion efforts, both in the US and the UK.

The round was co-led by Delta Partners and MiddleGame Ventures with Aperture and InsurTech Fund participating.

Kayna’s offer provides technology and data orchestration services between insurance carriers, brokers, and according to the company, any SaaS platform, resulting in an increase in gross revenues while providing relevant insurance to the traditionally underserved SMB market.

While the insurtech sector is by no means short on operators, Kayna is angling to stand apart from others in the field via its ability to track relevant data changes and offer both insurers and brokers real-time reviews of insurance coverage and adapt accordingly.

Kayna CEO, co-founder, and serial entrepreneur Paul Prendergast elaborates:

“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.”

Kayna was founded in 2021 and developed in the Founders Factory Venture Studio in collaboration with insurance giant Aviva. The company is a Lloyd’s Lab accelerator programme cohort 9 alumnus and won the 2023 Insurtech NY’s Carrier/Broker competition for global early-stage Insurtech

On the investment, Delta Partner’s Maurice Roche commented:

“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.”

Lead image: Kayna CEO  Paul Prendergast and CTO Peter Bermingham (left to right). Photo: Uncredited.

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