London-based payment processing insurtech firm Diesta has secured seed funding of approximately £2.9m. The round was led by FinTech Collective, a New York-based venture capital firm, with participation from Commerce Ventures and existing investors Restive Ventures and SixThirty.

Julian Schoemig, CEO of Diesta, said: “We’re addressing one of the insurance industry’s biggest back-office challenges—premium payments. We’ve shown that we can bring digital payment innovation to a space long considered an unsolvable burden. By working with everyone from nimble insurtechs to some of the largest brokers and MGAs in the London market, we know that the Diesta platform can deliver immense value for entities of all sizes.”