Peachy secures £1.5m seed investment from insurance industry veterans to expand its digital healthcare platform
The funding round was backed by angel investors including Sian Fisher and former executives from Axa and Bupa.
Peachy is an insurtech company providing flexible and affordable private health insurance through a mobile application.
London based insurtech startup Peachy has secured £1.5m in seed funding from a group of insurance industry veterans and angels, including former executives from Axa and Bupa. The fresh capital will support the company as it scales its digital platform designed to improve financial inclusion in private healthcare.
Operated under Hlthie, Peachy offers flexible health insurance without annual contracts or complex paperwork, allowing customers to build custom plans and access care via an app. The business is notable as the first health insurtech to be accepted into the FCA Sandbox programme.
The latest backing comes from prominent figures in the insurance sector who recognise the need for modernisation in traditional coverage and aim to help ease the strain on the National Health Service.
From the founder
"My former career as a surgeon in the NHS and subsequent time as an executive in and around the private healthcare industry gave me all the experience, insight and exposure to see and know what works and what doesn't. More than anything it has given me the passion to build a better way to provide access to private healthcare, making it radically more affordable and available to as many people as possible."
Amit Patel
Founder and CEO at Peachy
Investor perspective
"The Peachy team has done a stunning job in delivering a modern integrated digital health solution, a radically better way for health insurance to work for a wider population. Peachy will help reduce the burden on the NHS, broaden engagement in private care and is a refreshing digital solution amongst analogue traditional insurance. Amit and the team have produced something quite special and I am delighted to be investing in their hard work."
Damien Marmion
Ex-Chief Executive, Axa Global Health, Damien Marmion
Investors
Sian Fisher
Damien Marmion
Damien Marmion
Stuart Fletcher
Riko Scandelious
Eva-Maria Barbosa
Jonathan Ward
Ali Noorani
Categories
About the company
Peachy
Flexible and affordable private health insurance via a digital application.