Polish insurtech firm Trasti has secured a 88.1m zlotys ($24.3m) funding from the European Financial institution for Reconstruction and Improvement (EBRD), along with the Triglav Group.
The capital will assist Trasti’s enlargement plans to boost its digital insurance coverage choices, specializing in motor insurance coverage insurance policies linked to Triglav and geared toward enhancing its attain within the property and casualty segments and technological capabilities.
Trasti CEO Janusz Wojtas mentioned: “Trasti is a contemporary, future-ready, digital insurer that, due to the expertise and know-how of its staff, is ready to create native merchandise based mostly on common processes – actual enhancements to the shopper expertise.
“The funding of the EBRD and Triglav isn’t solely monetary assist for us but in addition proof that our mannequin works and works. We’ll use the funds raised for additional daring improvements and questioning the standard patterns.”
Trasti additionally plans to raise its company governance requirements by implementing the IFRS accounting requirements and refine its reporting framework to align with worldwide norms.
EBRD personal fairness co-head Tamas Nagy said: “Trasti is a main instance of a high-potential, tech-oriented firm that we wish to put money into Poland.
“We’re happy to have been in a position to usher in an skilled worldwide investor like Triglav on board by way of this transaction and are assured that our partnership will allow Trasti to mature right into a market chief.”
The EBRD has invested €16bn ($18.77bn) in 560 tasks in Poland since 1991.
In December, the EBRD and Aon established a €110m facility geared toward aiding Ukraine’s financial restoration within the face of battle.
