Diesta, an InsurTech startup focused on transforming insurance payment processes, has raised $3.8m in a seed funding round led by FinTech Collective.
The fresh capital will enable Diesta to scale its platform and continue innovating the way insurance companies handle B2B premium payments.
Commerce Ventures, along with several of Diesta’s existing investors, also contributed to the round, demonstrating continued confidence in the company’s vision and its potential to reshape the insurance payment landscape.
Diesta’s platform provides insurance companies with a unified solution for managing premium payments, automating manual processes, and delivering insights into payment data.
This innovation aims to help insurers reduce operational costs, improve efficiency, and unlock new revenue streams.
The company plans to use the funding to further develop its payment technology, aiming to reduce the number of touchpoints in the payment cycle and digitise the entire process.
Diesta intends to continue working with a broad range of insurance players, from smaller InsurTechs to large brokers and MGAs in the London market, to bring greater efficiency to the sector.
Co-founder and CEO Julian Schoemig said, “Our recent funding from FinTech Collective, Commerce VC, and existing investors underscores the fast growing focus on B2B insurance payments. Insurance currently moves every original premium payment seven times through outdated systems, highlighting the immense potential for digitisation. With the support of our new fintech partners, we’re excited to build the bridge between cutting-edge payment technology and the commercial insurance industry.
“We’re addressing one of the insurance industry’s biggest back-office challenges—premium payments. We’ve shown that we can bring digital payment innovation to a space long considered an unsolvable burden. By working with everyone from nimble InsurTechs to some of the largest brokers and MGAs in the London market, we know that the Diesta platform can deliver immense value for entities of all sizes. We are thrilled to have the backing of such high-profile investors as partners in our growth journey,” continued Schoemig.
Toby Triebel, Partner at FinTech Collective added, “The status quo surrounding payment processing in the insurance industry is stuck in the 20th century and cannot last.
“We are thrilled to partner with the Diesta team on their mission to reimagine this industry from the ground up. Their vision to eliminate premium processing time and costs, offering real-time payments, reconciliation, and treasury management has resonated strongly since the first meeting.”
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