216 Capital Invests Six Figures in Tunisian InsurTech EYST Technology to Modernize Global Insurance Claims

The insurance industry is currently navigating a massive digital transformation. As customer expectations shift toward immediacy, the traditional “reimbursement maze”—where policyholders pay out-of-pocket and wait weeks for compensation—is becoming a significant friction point. EYST Technology, a Tunisian InsurTech startup, is positioning itself to solve this structural inefficiency through real-time payment technology.

In a strategic move to accelerate this mission, 216 Capital has announced a six-figure investment in EYST Technology. The funding is earmarked to sharpen the startup’s digital platform and fuel its aggressive push into international markets.

From Reimbursement to Real-Time: The EYST Solution

Founded in 2022 by entrepreneur Marwen Amamou, EYST Technology has developed a SaaS platform that fundamentally alters the claims settlement workflow. Rather than relying on the outdated model of deferred reimbursement, EYST enables insurers to issue virtual bank cards instantly. These cards are pre-loaded with the approved claim amount, allowing users to settle medical bills or other insured expenses immediately.

This technology can be integrated directly into an insurer’s existing mobile applications or web portals. By placing the user experience at the center of the journey, EYST eliminates the need for customers to navigate complex reimbursement processes, replacing frustration with a fluid, integrated payment experience.

“EYST Technology responds to a structural issue in the insurance sector with a technological solution capable of deeply transforming the claims experience,” stated Dhekra Khelifi, Partner at 216 Capital. “Their ability to combine instant payment, data exploitation, and risk management constitutes a strong competitive advantage in a market undergoing rapid mutation.”

Strategic Roadmap: Fueling Global Expansion

The infusion of capital from 216 Capital is set to drive several key pillars of EYST’s growth strategy. The company plans to utilize the funds to enhance its product roadmap and scale its human capital across two primary areas:

• Product Innovation: Developing new strategic features, including cashback capabilities, enhanced data intelligence, and deeper integration into insurers’ core information systems.
• Team Scaling: Strengthening internal expertise, specifically within the Sales and Data departments.
• Market Penetration: Preparing for a wide-scale international rollout targeting Europe, the United States, South America, the Middle East, and Asia.

By building on its foundation of Tunisian engineering talent, EYST aims to consolidate its position as a leading player in the global digital insurance market.

Leveraging Data for Fraud Prevention and Control

Beyond the immediate benefit of instant payments, EYST Technology differentiates itself through a sophisticated approach to data and risk management. The virtual payment cards issued via the platform provide insurers with a new layer of transactional and behavioral data, which is critical for modernizing risk assessment.

The platform’s technology offers several high-value capabilities for insurers:

• Granular Control: Limiting card usage to specific spending categories or approved beneficiaries.
• Enhanced Traceability: Providing a clear, real-time audit trail for every transaction.
• Fraud Detection: Utilizing real-time data analysis to identify and mitigate suspicious behavior more effectively.

“The arrival of 216 Capital marks an important step for EYST,” noted Marwen Amamou, Co-founder and CTO of EYST Technology. “Beyond the financing, we share a single ambition: to modernize the claims experience through technology that combines instant payment, risk management, and intelligent data exploitation.”

Key Takeaways

• Investment: 216 Capital has provided a six-figure investment to Tunisian InsurTech EYST Technology.
• Core Innovation: A SaaS platform that uses virtual cards to provide instant, direct payment for insurance claims.
• Growth Focus: Expansion into Europe, the US, South America, the Middle East, and Asia.
• Strategic Advantage: Integration of data intelligence to improve fraud detection and transaction traceability.

Frequently Asked Questions

What problem does EYST Technology solve?

EYST solves the delay and complexity associated with traditional insurance reimbursements. Instead of customers paying upfront and waiting for a refund, EYST allows insurers to provide instant funds via virtual cards.

How does this technology help insurers manage risk?

The platform provides real-time data on how and where funds are spent. This allows insurers to restrict spending to specific categories and use data analytics to detect fraudulent patterns more efficiently.

What is 216 Capital?

Founded in Tunis in 2021, 216 Capital is a venture capital firm specializing in seed and pre-seed investments for disruptive technology companies.

As the InsurTech landscape continues to evolve, the move toward real-time, data-driven settlement models appears inevitable. With this latest funding round, EYST Technology is well-positioned to lead that transition on a global scale.