France-Based EYST Technology Secures Six-Figure Investment from Tunisia-Based 216 Capital To Support Global Expansion

France-based insurtech startup EYST Technology has bagged a six-figure investment from Tunisia-based venture capital (VC) firm 216 Capital to support its product development and international expansion plans. 

Founded in 2022 by Arnaud Brodzki (CEO), Marwen Amamou (CTO), Juliette Dusseaux (CPO), and Antoine Vanoverberghe (COO), EYST Technology is a Paris-headquartered software-as-a-service (SaaS) insurtech company with a multidisciplinary research and development (R&D) team based in Tunisia. The startup has developed a platform that enables insurers to process claims through virtual bank cards that are instantly credited with reimbursement amounts. Integrated into insurers' mobile applications and web platforms, the solution allows policyholders to cover eligible expenses without paying upfront and waiting for reimbursement, while helping insurers streamline claims settlement through a faster and more transparent process. In addition to claims settlement, EYST Technology's platform includes payment management, data analysis, and risk management tools. Its virtual payment cards can be configured to restrict spending to specific categories or beneficiaries, improve transaction traceability, and support the identification of suspicious activity through real-time data analysis. 

In an interview with Inc. Arabia, Brodzki explained that EYST Technology aims to address a longstanding challenge in the insurance industry, which sees policyholders having to cover claim-related expenses upfront before waiting for reimbursement—a process that creates financial strain and friction between insurers and their customers. Explaining how its model seeks to remove those inefficiencies from the claims process, Brodzki said, "Policyholders stop having to dip into their own pockets. Insurers stop drowning in invoice chasing, accounting reconciliations, and administrative back-and-forth across millions of claims a year. Instead, they send the policyholder a dedicated card, locked to that specific claim, with spending restrictions enforced by our system. The added bonus: every transaction is fully traceable, and fraud can be flagged in real time." 

Since its inception, EYST Technology has focused on building the technological and operational foundations needed to support large-scale deployment across multiple markets. This, in turn, has played a crucial role in the startup securing its latest investment. "Before raising, the priority was building something reliable enough to scale," Brodzki explained. "Today, we issue virtual cards delivered by short message service (SMS) in under a second, ready to use via Apple Pay or Google Pay within a minute. Getting there meant nailing the user experience, meeting strict regulatory requirements, and building infrastructure that can handle it at volume. From there, the focus shifted to proving the market. By the fourth quarter, we'll have close to 10 clients live across more than six European countries, including household names like Generali and Groupama, and one insurer that ranks in the global top three.”  

Those developments reinforced 216 Capital's conviction that EYST Technology is addressing a critical gap in the insurance value chain. "We invested in EYST because the insurance industry has reached a tipping point where legacy claims processes can no longer meet the modern demand for instant gratification," Dhekra Khelifi, Partner at 216 Capital, told Inc. Arabia. "While most innovation has focused on sales, EYST addresses the 'back-end' friction by transforming the claims maze into a seamless, real-time payment experience. They stood out to us by merging fintech and insurtech through virtual card technology, which provides insurers with unprecedented transaction traceability and proactive fraud prevention that legacy systems simply cannot match." 

The new funding that EYST Technology has secured is set to be used to expand its product offering, including new features such as cashback services, deeper integration with insurers' information systems, and additional data intelligence capabilities, with 216 Capital providing strategic support as well. “216 Capital's role goes beyond writing a check," Brodzki added. "They challenge our strategic thinking, open doors across their network, and roll up their sleeves on the operational and structural questions that actually determine whether a company scales or stalls." 

The EYST Technology team.

A key part of EYST technology's model for growth is its engineering and operational presence in Tunisia, which is where one of its co-founders, Amamou, is originally from. The company currently operates with a multidisciplinary engineering team based in the North African country and views that talent base as central to its long-term development. "Maintaining a strong back-office and talent base in Tunisia is a key strategic advantage for EYST and an essential pillar of the company’s long-term international growth," Brodzki shared. "Beyond operational efficiency, product delivery is strategically critical, because it is the core platform our customers interact with every day. In this sector, clients often require extensive customization to ensure the solution fits their specific needs and integrates seamlessly within their existing ecosystem. This makes having a highly skilled multidisciplinary team in Tunisia particularly important, both for continuously developing and adapting the product and for ensuring the highest standards of security, reliability, and scalability as the company expands internationally."

EYST Technology's decision to anchor a significant part of its operations in Tunisia also aligned closely with the potential 216 Capital sees in locally built yet globally scalable ventures. "We view EYST's commitment to Tunisia as a strategic advantage rather than a local constraint," Khelifi said. "Our investment thesis is built on the conviction that Tunisian engineering talent can build world-class, globally scalable technology. By backing startups that utilize local R&D to solve international problems, we are not only seeking high returns but also strengthening the national innovation ecosystem, proving that Tunisia serves as a competitive hub for high-tech entrepreneurship." 

Beyond strengthening its product and team, EYST now plans to grow its workforce, particularly across its sales and data teams, while preparing for expansion into Europe, the US, South America, the Middle East, and Asia. As those plans take shape, Khelifi said that she sees certain regions offering particularly strong near-term opportunities for the startup. "Strategically, we see the Middle East and Europe as the most vital near-term markets," she said. "The Middle East is currently undergoing a massive digital and regulatory shift that favors EYST's fintech-integrated approach, while Europe's mature insurance sector offers the perfect landscape for their sophisticated data and compliance tools. Success in these regions will provide the regulatory credibility and operational foundation necessary for EYST to eventually scale into Latin America, Asia, and the US."

For Brodzki, the company’s expansion strategy reflects its strategic outlook on growth. "Our approach is straightforward: we don't close doors on opportunities; we walk through all of them," he said. "The goal is to become the global leader in direct payment SaaS for insurance, and that means showing up wherever demand is growing: Europe, the US, the Middle East, Asia, South America. To back that ambition with real execution, we're currently building an infrastructure anchored across multiple banking-as-a-service partners. That setup means that we're ready, both technically and from a compliance standpoint, to switch on new markets quickly whenever the right opportunity appears. That ability to move fast, anywhere in the world, is what sets us apart in a market that sees close to EUR20 trillion (US$23.31 trillion) in claims paid out every year globally." 

Pictured in the lead image are EYST Technology co-founders (from left to right) Arnaud Brodzki, Marwen Amamou, Juliette Dusseaux, and Antoine Vanoverberghe. All images courtesy EYST Technology.