Kota closes €5m seed round to help further grow business

The cofounders of Kota, formerly Yonder: chief technology officer Patrick O’Boyle, chief executive Luke Mackey, and director of engineering Deepak Baliga.

The company, which is aiming to simplify health and pension benefits for global businesses and employees through the use of a 100 per cent digital platform and app, is also launching a new embedded health insurance product that will allow platforms and developers to embed financial benefits products in their own platforms, increasing access.

“Employee health and retirement benefits are the Achilles heel of HR and finance teams. They are managed through spreadsheets, portals and email - completely fragmented, offline and lacking interoperability. This is little surprise given, unlike other areas of HR and Finance where modern tools have revolutionised workflows, this industry is still dominated by old-school brokerages with an admin-heavy model,” chief executive Luke Mackey said.

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