Kota secures €5m seed funding from EQT Ventures to expand employee benefits platform
The Dublin-based startup has pulled in €5m in an oversubscribed seed round led by EQT Ventures to scale its insurance and retirement technology.
≈ £4.4M at €1 = £0.8731 on 25 Oct 2023
Kota operates a digital platform that centralises and automates employee benefits management for businesses across numerous countries.
Irish employee benefits platform Kota has raised €5m in a seed funding round led by EQT Ventures, with participation from existing backers Northzone and Frontline Ventures. Additional backing came from angel investors including Job Van Der Voort and Romain Huet.
The fresh capital will be directed towards product development, geographic expansion, and enhancing platform capabilities for employers managing workforce benefits.
Simultaneously, Kota is launching a new API product that allows developers and platforms to embed financial benefits, starting with health insurance, directly into their own systems.
From the founder
"Kota is first to market with a platform that is automating workflows through data synchronisation and reconciliation, integrating with top-tier health, life and pension providers, and ultimately, delivering employees access to the benefits that they deserve."
Luke Mackey
Founder and CEO at Kota
Investor perspective
"Kota is creating a new category by providing the critical infrastructure for the distribution of financial products, at a time when employees rely on their workplace to access these products. We’ve been impressed with Luke, Patrick and Deepak’s ability to ship fast, and are excited for them to execute their long term vision."
Naza Metghalchi
Principal, EQT
Use of funds
- 01Continue product development
- 02Expand into international markets
