Diesta secures $2m in seed funding to streamline insurance payment reconciliation
The seed round saw participation from investors including Restive, SixThirty, and Antler to support product development.
≈ £1.6M at $1 = £0.8186 on 9 Nov 2023
Diesta provides a B2B software platform designed to streamline payment operations, reconciliation, and treasury management for the insurance sector.
London insurtech startup Diesta has raised $2m in seed funding to advance its product development and scale operations. The round was backed by Restive, SixThirty, Antler, SystemaNova, and Westerly Ventures.
The company is targeting inefficiencies in the global insurance market, where premium payment reconciliation costs the sector billions annually. Diesta's platform seeks to slash these administrative overheads for insurers and brokers by a significant margin.
Co-founders Julian Schoemig and Christopher Davis met during an Antler residency program, drawing on their respective backgrounds at Munich Re and Discovery Bank to build the solution. Early investors noted the team's technical depth and the considerable market opportunity in modernising legacy insurance workflows.
From the founder
"This is an example of a legacy industry practice that is costing insurance companies millions every year. Our platform provides a solution which directly addresses this challenge."
Julian Schoemig
Co-Founder and CEO at Diesta
Investor perspective
"the success of British fintech startups has become the stuff of legend in tech ecosystems around the world, and I have every confidence that insurtech will be the next chapter of that growth story. Diesta is at the forefront of a new generation of insurtech talent emerging in London, and they have the potential to become one of the most important players in this space."
Ollie Purdue
Partner, Antler
Use of funds
- 01Continue product development
