Insurtech Peak3, formerly known as ZA Tech, is pushing forward with its expansion in the UK and Europe after raising $35 mn in a Series A funding round, led by EQT, with participation from Alpha JWC Ventures.
The investment will fuel digital transformation for insurers through Peak3’s API-driven, cloud-native SaaS solutions.
Strong demand for digital-first, modular, and embedded insurance solutions prompted Peak3 to establish its European headquarters in Dublin, Ireland.
The company will initially target key markets, including the UK, DACH (Germany, Austria, Switzerland), France, Spain, Italy, Benelux, Scandinavia, and Turkey.
Prior to this, in 2022, the company raised $230 mn in Series A funding from investors including AIA and Chow Tai Fook, which facilitated its expansion into Europe, Hong Kong, and Southeast Asia.
Peak3’s cloud core insurance platform, Graphene, has already issued over 1 bn insurance policies for more than 50 clients in over 20 countries, including many in Europe.
The company has over 500 professionals working in R&D, delivery, sales, and operations, with teams in Japan, Southeast Asia, Greater China, and now Europe, where it plans to invest in local talent acquisition and development.
Peak3 modernizes legacy systems without costly overhauls, boosting speed-to-market, scalability, and customer engagement across multiple regions.
The platform also addresses the protection gap, particularly for underserved demographics like SMEs, freelancers, gig economy workers, and younger consumers.
Graphene’s cloud-based, API-driven core system supports rapid digital transformation. It allows insurers to launch tailored digital-first products while promoting financial inclusivity.
Adrien Lebègue, CEO of EMEA at Peak3, stated that insurers in the UK and Europe face mounting pressure to modernize, cut operational costs, meet compliance standards, and enhance customer engagement.
Insurers across the UK and Europe face increasing pressure to modernise, reduce operational costs, meet ever-increasing compliance requirements, and improve customer engagement.
Adrien Lebègue, CEO of EMEA at Peak3
He noted that the Graphene platform provides a flexible and scalable foundation to deliver digital-first insurance while streamlining operations across various regions.
Esben Seyffart Sørensen, Chief Sales Officer for Europe at Peak3, highlighted the opportunity to expand in Europe, emphasizing the need to adapt to local market conditions rather than replicating the APAC model.
There is a huge opportunity to bring Peak3’s expertise to Europe, where we are seeing a shift in the insurance landscape. While we are building on our significant success in APAC, we recognise that localisation is key.
Esben Seyffart Sørensen, Chief Sales Officer, Europe, at Peak3
“We are not simply replicating an APAC model but leveraging our insights and adapting them to meet local market needs.”
Peak3’s solutions address insurers’ challenges by providing:
- Omni-channel engagement: Reach customers across mobile, web, and embedded ecosystems with hybrid human-digital interaction.
- Digital and embedded insurance: Integrate insurance seamlessly into fintech, ecommerce, and mobility platforms.
- Core modernization: Transform operations through a modular, cloud-first approach.
- Data-driven decision-making: Use AI analytics to improve customer retention and engagement.
Peak3 is already gaining traction with projects underway in Europe. The company aims to build a more integrated insurance ecosystem that enables insurers to quickly launch and scale innovative products.
