EYST Technology Secures Six-Figure Deal to Revolutionise Global Insurance Payouts

216 Capital has backed Tunisian insurtech startup EYST Technology in a six-figure investment round, as the company looks to sharpen its digital platform and accelerate its push into international markets. The deal lands at a time when insurers everywhere are under pressure to move faster, pay claims quicker, and clamp down on fraud without making the whole process a bit of a faff for customers.

Founded in 2022 by Tunisian entrepreneur Marwen Amamou, EYST is building a SaaS platform designed to modernise how insurance claims are settled. Its core idea is fairly straightforward but powerful: instead of asking customers to pay out of pocket and wait for reimbursement, insurers can issue virtual bank cards instantly loaded with the approved compensation amount.

In practice, that means users can cover medical bills or other insured expenses directly, without navigating the usual reimbursement maze. The platform can be accessed via insurers’ mobile apps or web portals, placing the user experience front and centre, where, frankly, it should have been all along.

I’ve seen founders across the MENA region wrestle with outdated claims systems that frustrate customers and internal teams alike. At Arageek, we often hear from startups trying to fix these structural gaps, and this is one of those areas where even a small tweak can make a big difference. Waiting weeks for a payout? It’s enough to test anyone’s patience.

EYST plans to use the fresh capital to speed up product development and roll out new features, including cashback services. The company is also working on deeper integrations with insurers’ internal systems, alongside enhanced data analytics and risk management tools. That combination, payments, data, and risk controls in one loop, could prove spot on in a market where margins are tight and scrutiny is high.

The virtual cards issued through the platform can be restricted to specific spending categories or approved merchants. This added layer of control, paired with real-time transaction monitoring, is designed to improve transparency and detect suspicious activity more effectively. In an industry where fraud is a constant headache, that’s not a small detail.

Dhekra Khelifi, Partner at 216 Capital, said EYST addresses a structural challenge within the insurance sector. She noted that blending instant payments with data analytics and risk management gives the startup a competitive edge in a fast-evolving market.

For his part, Amamou, Co-founder and CTO of EYST, described the investment as a key milestone for the company. He pointed to a shared vision with 216 Capital to reshape the claims experience by combining immediate payouts, smarter risk management, and intelligent use of data.

Beyond product upgrades, EYST is preparing to expand its team, particularly in sales and data, as it eyes growth across Europe, the United States, South America, the Middle East, and Asia. The company operates with a multidisciplinary engineering team based in Tunisia, tapping local talent as a springboard for global expansion. And believe it or not, this model is becoming increasingly common: build at home, scale abroad.

I reckon insurtech is one of those sectors that doesn’t always grab headlines, yet it quietly underpins everyday life. A smoother claims process may not sound glamorous, but when you’re in need of funds urgently, it suddenly becomes very real, very human. If EYST can deliver on its promise, it could definately shift expectations around how quickly and transparently insurers respond when it matters most.

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