Health insurtech raises $1.6m in seed funding round

Insurtech company Peachy has raised $1.6m in seed funding from a list of former health executives to pursue the roll-out of its app-based health insurance platform.

The app, which has been accepted into the FCA ‘Sandbox’ programme, enables customers to buy and manage health insurance on a monthly basis with no annual commitment. Customers can also check their cover and book virtual consultations directly with providers, as well as make claims, from within the app.

The startup, which has been under development for three years, is the brainchild of former NHS surgeon and senior Bupa executive Amit Patel.  

‘We are proud of what we have built with Peachy – a true end-to-end technology-based solution that private medical insurance has been in desperate need of for years,’ said Patel. ‘More than anything, we are excited about the much larger cross section of the public who will now find it radically easier and more affordable to get the private healthcare they want, all of which will help ease the strain on the NHS.’