EYST raises funding as Asia hits $100M

Tunisian insurtech EYST has raised a six-figure investment from venture firm 216 Capital, adding a North African deal to a week in which industry data showed Asia’s insurtech market reached $100 million in first-quarter funding. Wamda reported the EYST round on May 19, saying the company would use the capital for product development, hiring and international expansion. Insurance Asia reported separately that insurtech firms in Asia raised $100 million across 81 deals in Q1 2026 despite a broader global slowdown in the sector. ### Who is EYST, and what did it raise? EYST Technology was founded in 2022 by Marwen Amamou, Antoine Vanoverberghe and Arnaud Brodzki, according to Wamda’s report on the company’s funding. The Tunisia-based startup develops software for insurers to settle claims instantly through virtual bank cards rather than traditional reimbursement cycles. 216 Capital made the investment in an undisclosed six-figure amount, according to Wamda and other regional startup coverage. (wamda.com) The company said the financing would support its technological roadmap and international growth plans. ### What problem is EYST trying to solve for insurers? EYST’s platform is built around claims settlement, one of the costliest and most operationally sensitive parts of insurance. (wamda.com) Wamda said the product lets insurers issue virtual cards loaded with claim amounts immediately, allowing policyholders to pay expenses without advancing cash and waiting for reimbursement. That makes the company part of a narrower insurtech segment focused less on consumer distribution and more on claims infrastructure. The funding use cases cited in coverage — product features, sales capacity and data hiring — point to a business trying to deepen insurer workflows rather than build a retail insurance brand. That is an inference based on the company’s described product and hiring plans. (wamda.com) ### What does the Asia figure show? Insurance Asia said Asian insurtech firms reached $100 million in funding and deals in the first three months of 2026. The publication said deal count fell to 81 in Q1, the weakest tally since Q2 2016, indicating that capital was still selective even as the region posted meaningful activity. Global data points the same way. (wamda.com) InsurTech Analyst reported in April that worldwide insurtech investment totaled $943.4 million across 42 deals in Q1 2026, while FinTech Global said April funding then fell to about $119 million, underscoring a choppy market after a stronger first quarter. ### Why do these two developments belong in the same conversation? (insuranceasia.com) May 2026 brought one small disclosed round in Tunisia and one regional funding snapshot in Asia, but both show capital still moving toward insurer-facing technology outside the biggest U.S. and European hubs. In EYST’s case, the company said it is targeting markets in Europe, the United States, the Middle East, South America and Asia. (insurtechanalyst.com) For insurers and brokers looking for local technology partners, those moves add to the list of vendors building in claims payments, embedded infrastructure and distribution-adjacent software across multiple regions. The available reports do not show direct commercial partnerships tied to EYST’s round or the Asian funding tally, but they do identify active company formation and financing in those markets. (wamda.com) ### What comes next for EYST? EYST said the next steps are product expansion, team growth and entry into new markets, according to Wamda’s report. The company named Europe, the United States, the Middle East, South America and Asia as target regions for that expansion, while 216 Capital’s backing gives it fresh capital to pursue that plan. (wamda.com)