EYST Raises Capital from 216 Capital for Claims Tech

Tunisian insurtech innovator EYST has secured a strategic investment from venture capital firm 216 Capital, signaling a significant step forward in its mission to revolutionize insurance claims processing. The infusion of capital will fuel EYST's ongoing product enhancement and pave the way for its international market entry.

Founded in 2022, EYST has developed a sophisticated Software-as-a-Service (SaaS) platform designed to modernize the often-cumbersome claims settlement process. At its core, the technology facilitates the instant issuance of virtual bank cards, pre-loaded with reimbursement funds. This capability allows policyholders to receive their payouts immediately, eliminating the traditional lag associated with deferred reimbursements and transforming the customer experience into one of speed, simplicity, and seamless integration.

The EYST solution is designed for effortless integration into existing insurer workflows, accessible directly through mobile applications or web portals. This user-centric approach prioritizes a frictionless journey for policyholders, enhancing transparency and efficiency. The insurtech sector, a rapidly growing segment within financial services, is increasingly focused on leveraging technology to improve customer engagement and operational effectiveness. The global insurtech market is projected to reach substantial figures in the coming years, driven by demand for personalized and efficient insurance solutions.

“The partnership with 216 Capital represents a pivotal moment for EYST,” stated Marwen Amamou, co-founder and CTO at EYST Technology. “Beyond the financial backing, we are united by a shared vision to redefine claims settlement through technology that harmonizes instant payments, robust risk management, and intelligent data analytics.” This sentiment underscores the strategic alignment between the startup and its new investor.

Dhekra Khelifi, partner at 216 Capital, highlighted the transformative potential of EYST's offering. “EYST Technology is addressing a fundamental challenge within the insurance industry with a solution poised to profoundly reshape the claims experience. Their unique ability to combine payment instantaneity, data utilization, and risk mitigation provides a distinct competitive edge in a dynamic market.” This strategic investment aligns with 216 Capital's focus on supporting innovative technology companies that address significant market needs.

The investment from 216 Capital is expected to accelerate EYST's technological development roadmap and support its ambitious expansion plans into new geographical markets. This move positions EYST to capitalize on the growing demand for digital-first insurance solutions across various regions, particularly in markets where traditional claims processes are ripe for disruption.