Polish insurtech company Trasti has secured a 88.1m zlotys ($24.3m) investment from the European Bank for Reconstruction and Development (EBRD), in conjunction with the Triglav Group. 

The capital will support Trasti’s expansion plans to enhance its digital insurance offerings, focusing on motor insurance policies linked to Triglav and aimed at improving its reach in the property and casualty segments and technological capabilities. 

Trasti CEO Janusz Wojtas said: “Trasti is a modern, future-ready, digital insurer that, thanks to the technology and know-how of its team, is able to create local products based on universal processes – real improvements to the customer experience.  

“The investment of the EBRD and Triglav is not only financial support for us but also proof that our model works and works. We will use the funds raised for further bold innovations and questioning the usual patterns.”  

Trasti also plans to elevate its corporate governance standards by implementing the IFRS accounting standards and refine its reporting framework to align with international norms. 

EBRD private equity co-head Tamas Nagy stated: “Trasti is a prime example of a high-potential, tech-oriented company that we want to invest in Poland.  

“We are pleased to have been able to bring in an experienced international investor like Triglav on board through this transaction and are confident that our partnership will enable Trasti to mature into a market leader.”  

The EBRD has invested €16bn ($18.77bn) in 560 projects in Poland since 1991. 

In December, the EBRD and Aon established a €110m facility aimed at aiding Ukraine’s economic recovery in the face of conflict.