Kayna, the award-winning embedded insurance infrastructure platform, has closed a €1.5 million (US$1.7 million) seed funding round. Led by original pre-seed investor Delta Partners (Ireland) with ongoing support from MiddleGame Ventures (pan-European) and Aperture (Switzerland), the company welcomes three new investors — Leo Capital (Finland and Singapore), Enterprise Ireland, and Digital Irish — as it moves ahead with major market development plans for the United Kingdom and United States.
What Kayna Does
Kayna helps business software companies add insurance to their platforms in a simple, seamless way. Vertical SaaS platforms are built for specific types of small businesses — franchise networks, restaurants, construction firms, and field service companies — to support day-to-day operations. Kayna provides the AI policy analysis tool that uncovers insurance gaps, together with the orchestration technology that enables VSaaS platforms to access multiple insurance carriers and brokers, making it possible for small businesses to gain data-led quotes and fully tailored insurance cover directly through the platform they use every day.
The global vertical SaaS market consists of specialised software platforms built for specific industries and used by millions of businesses around the world. Embedded insurance is forecast to account for 16% of the global insurance market, worth US$1.5 trillion, within a decade.
Milestones Since Pre-Seed
Kayna was launched in 2021 by CEO Paul Prendergast and CTO Peter Bermingham, who have scaled multiple insurtech businesses during their partnership of more than two decades. Since closing its €1 million pre-seed round in 2023, the company has achieved a series of significant milestones:
Securing a partnership with multinational broker Willis Towers Watson (NASDAQ: WTW). Launching live programs in the UK and USA, enabling embedded commercial insurance in multiple vertical sectors including cyber, equine, and security — the latest of which launched in February 2026 with Belfry, a US-based platform purpose-built for the physical security industry. Developing and launching an AI toolkit for insurance policy analysis. Establishing a corporate headquarters in Penrose Wharf in Cork’s Victorian Quarter. Completing its initial recruitment phase with a commitment to create 13 new roles over two years, making senior appointments to the leadership team and securing top talent for high-skill roles in both Ireland and the USA.
From the Investors
“Kayna has achieved each strategic goal to date and is now ready to scale,” said Maurice Roche, General Partner at Delta Partners. “We’re proud of the solid, productive relationship we have built together supporting Kayna as it delivers new revenue streams for platforms, data-led insurance for small businesses and a step-change in insurance product distribution.”
Kanishk Walia, MiddleGame Ventures Partner, added, “Kayna delivers the missing infrastructure and AI policy analysis that surfaces real insurance coverage gaps for small businesses. It successfully enables vertical SaaS platforms to turn day-to-day operational, commercial and financial data into automated, bindable, commercial insurance. We’re excited to back the team again as they scale this innovative low-code integration model across more verticals and push to fulfil their ambition in the UK and US markets.”
About Kayna
Kayna enables embedded insurance through vertical SaaS platforms. It provides the technology and data orchestration layer between carriers, brokers, and any vertical SaaS platform to distribute products that are directly relevant to platform customers. For more information, visit kayna.io
About the Investors
Delta Partners is a venture capital firm that invests in early-stage startups in Ireland. Having invested in over 120 companies with exits generating €1.8 billion, Delta has a track record of investment performance. deltapartners.com
MiddleGame Ventures is an early-stage venture capital firm backing world-class fintech entrepreneurs from Seed through Series B, partnering with exceptional European entrepreneurs re-architecting and digitising financial services. middlegamevc.com
Aperture, founded in 2019 in Switzerland, invests in and works alongside founders of the most promising early-stage companies in embedded finance, B2B fintech SaaS, and enterprise applied AI. aperture.co
Leo Capital is a Singapore and Finland-based early-stage global venture fund backing companies powering a software-enabled world. leo.capital
Enterprise Ireland is the Irish government’s enterprise development agency, helping Irish companies develop high-growth strategies and enter new markets. enterprise-ireland.com
Digital Irish, established in 2013, provides a soft-landing for Irish startups expanding into the USA and UK, promoting Irish innovation globally across the Irish diaspora. digitalirish.com
Disclosure
Kayna is a portfolio company of InsurTech Fund, an affiliate of InsurTech NY. InsurTech NY has a financial interest in Kayna. This post is shared for informational purposes and reflects our genuine excitement about Kayna’s growth and this funding announcement.
