Kota raises €5m from backers for its benefits platform

Company follows pre-seed raise last year with new fianncing led by EQT Ventures

Luke Mackey, co-founder and chief executive of Kota: Kota is first to market with a platform that is automating workflows through data synchronisation and reconciliation, integrating with top-tier health, life and pension providers

Kota, the employee benefits company formerly known as Yonder, has raised €5 million in an oversubscribed seed funding round.

Founded in 2022 by chief executive Luke Mackey, chief technology officer Patrick O’Boyle and director of engineering Deepak Baliga, Kota is focused on simplifying health and pension benefits businesses and their employees.

EQT Ventures, a Swedish venture capital firm whose previous investments include fellow Irish start-up War Ducks, led the new funding round.

Existing investors Northzone ...