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 (which raised €110 million from the Naspers subsidiary PayU) and two seasoned executives from the European insurance industry, Coya is coming to market in Germany with a new renter’s insurance service.
For Coya’s co-founder Andrew Shaw, the new company was an opportunity to 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 technologically enabled insurance business.
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