UK insurtech startup Eleos secures $750K in Pre-Seed funding

UK insurtech startup Eleos secures $750,000 pre-seed funding to launch innovative insurance products, bridging the UK's protection gap with tailored income and life cover.
UK insurtech startup Eleos secures $750K in Pre-Seed funding

UK-based insurtech startup Eleos has bagged itself $750,000 in Pre-Seed funding. The round was backed by Indico Capital Partners, APX, Fuel Ventures, and Magic Fund.

Funds will see the launch of further insurance products as the firm attempts to ‘bridge the massive protection gap that exists in the UK’. It partners with brands and other fintechs, embedding tailored income protection insurance and life cover into their online journeys.

"Eleos is building something hugely innovative and exciting, shaking up the insurance industry. They’re a welcome addition to the Fuel Ventures portfolio, and we look forward to supporting their continued success," says Mark Pearson, founder and Managing Partner of Fuel Ventures Ltd.

Founded by Nuno Costa, Kiruba Eswaran and Antonio Lopez, Eleos came to fruition in 2023. It now has teams in London and Lisbon. 

“Our mission is to give everyone the financial stability that will steer them safely through times of unavoidable hardship by offering accessible, affordable and essential insurance policies. We’ve made huge progress towards this goal in just a few short months, and with our new investment partners, that progress will accelerate," says Eswaran. 

Lead image: via Eleos. Photo: Uncredited. 

Follow the developments in the technology world. What would you like us to deliver to you?
Your subscription registration has been successfully created.