Berlin-based Embea has successfully concluded its seed funding round, securing a remarkable €4m.

Embea is among the first companies to extend the emerging trend of Embedded Insurance from covering gadgets to offering life insurance protection. Instead of buying via brokers or from a dedicated website, individuals and families get covered through just a few additional clicks during non-insurance activities, like booking travel or taking out a loan.

With limited access to new venture capital funds, digital platforms, notably digital banks and other fintechs, aim to increase earnings from existing users. Embea enables these players to enhance their platforms by offering life insurance and creating an additional revenue stream. Integration is effortless and completed within days, thanks to Embea’s highly customizable, no-code embedded checkout technology.

This investment comes at a time when the overall InsurTech market is not having the easiest time. A report by FinTech Global revealed a 84% decrease in total investment in European InsurTech companies for 2023.

Co-founder and CEO of Embea, Dr Johannes Becher, stated: “We are delighted to have secured this funding showing that the future of InsurTech is far from dead. By taking life insurance embedded, we enable underserved groups to access existential coverage while helping our partners to generate additional income.”

Embea will use the proceeds to expand its pan-European Embedded Life Insurance platform and add new insurance products to its portfolio. The company seeks to become the go-to B2B platform for digital businesses active in multiple European markets, allowing them to add life insurance without requiring a different insurance partner for each.