Written by Alex Bredeen
We are excited to announce Fuel Ventures investment in Eleos as part of a $750,000 pre-seed funding round, joined by Indico Capital Partners, APX and Magic Fund, to make life and income protection insurance accessible for all. With two previous exits under the Eleos founding team belt, we can’t wait to see these guys innovate in this very exciting space. Congratulations Kiruba Eswaran, Nuno Costa and Antonio Garnier.
What is Eleos?
Eleos works in partnership with several popular brands, mostly other fintechs, to embed income protection insurance and life cover into their online journeys. By using the data these brands already hold, Eleos is able to raise awareness, provide personalised quotes, and speed up the application process.
Eleos' partners range from leading fintech brands to self-employment marketplaces and demonstrate the commitment of all parties to the creation of financial resilience. These partnerships not only prioritise the financial well-being of customers but also bring considerable enhancements to each brand’s offer by giving them access to significant revenue streams and improving customer retention.
Who is behind Eleos?
Launched in 2023, and with teams in London and Lisbon, Eleos was founded by a team of entrepreneurs who have successfully exited from Zaask, a leading services marketplace in Iberia, and Anorak, the UK's first digital life insurance broker.
CEO Kiruba Eswaran and CTO Nuno Costa are joined by lead engineer Antonio Garnier to take on this enormous challenge in an enormous market.
“Our mission is to give everyone the financial stability that will steer them safely through times of unavoidable hardship by offering accessible, affordable and essential insurance policies. We’ve made huge progress towards this goal in just a few short months, and with our new investment partners, that progress will accelerate.” Eleos founder and CEO, Kiruba Eswaran
What do the investors think?
“Eleos is building something hugely innovative and exciting, shaking up the insurance industry. They’re a welcome addition to the Fuel Ventures portfolio, and we look forward to supporting their continued success.” Fuel Ventures Founding Partner, Mark Pearson.
“Happy to welcome Eleos to our Indico Founders Program powered by Google for Startups. The digitalization of insurance is still in its early days, and Eleos is innovating in this massive field.” Managing General Partner of Indico Capital Partners, Stephan Morais.
What’s next?
Eleos has already seen exciting traction with their customers and partners. This pre-seed round will enable them to continue to build and launch innovative insurance products and forge new partnerships to bridge the massive protection gap that exists in the UK.
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