The investment will enable Diesta to further scale its platform and continue transforming the way insurance companies process B2B premium payments. The company’s technology offers a more efficient and streamlined approach to payment operations, addressing the inefficiencies and fragmentation that currently exist in the industry.
Diesta’s platform provides a unified solution for managing premium payments, automating manual processes and offering valuable insights into payment data. This can help insurance companies reduce costs, improve efficiency, and unlock new revenue opportunities.
Speaking with Insurtech Insights, 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 Insurance currently moves every original premium payment seven times through outdated systems, highlighting the immense potential for digitisation.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.”
He continued: “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.”
“The status quo surrounding payment processing in the insurance industry is stuck in the 20th century and cannot last”, said Toby Triebel, Partner at FinTech Collective.
He added: “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.”
