INSUBCONTINENT EXCLUSIVE:
Coya, a Berlin-based insurance startup, has raised $30 million in new cash as investors around the world continue to see opportunities in
modernizing the insurance industry.Founded by two early employees at the European credit and risk assessment unicorn startup Kreditech
apply his experience creating credit and risk assessment products to an industry whose cumbersome inability to use technology had affected
him personally.The idea for Coya hit Shaw when he was traveling on the Gili Islands off the coast of Indonesia
It was there, while Shaw was trying to get information on his insurance as he recovered from an illness, that he decided to start his
Christian Manthey PhotographyThe company has raised a total of $40 million for its service from investors, including Valar Ventures (the
Peter Thiel-backed investment firm), eVentures, La Famiglia and a slew of angel investors.With the money, Coya hopes to establish its
Powering that expansion is a German insurance license, which the company is close to receiving, according to Shaw
insurance products across property, accident, personal liability and personal finance.The company has 55 people on staff now, and expects to
increase its headcount as a result of the new financing, according to Shaw.Shaw says that Coya is different from many of the other startups
pitching insurance products across Europe thanks to its push to receive regulatory approval and issue its own policies
novel twists on the service
