Drake Star Acts as Exclusive Financial Advisor to Eir on its €20m Growth Financing Round Led by Endeit Capital

Stockholm | October 08th, 2025 – Eir, a fast-growing Swedish embedded insurance provider, has successfully raised €20 million in primary capital. The funding round was led by Endeit Capital and supported by family offices, with participation from existing shareholders.  

Drake Star acted as the exclusive financial advisor to Eir on this transaction. 

Founded in 2019, Eir has established itself as a leading player in embedded insurance, offering tailored products seamlessly integrated into partner ecosystems. With its B2B2X model, Eir empowers mid-sized businesses to offer AI-driven embedded insurance solutions across Europe. The company has consistently delivered strong growth in Gross Written Premium (GWP), achieved profitability, and maintained its industry-leading low loss ratio. 

Eir offers a comprehensive portfolio of non-life insurance solutions, spanning motor, health, travel, SME commercial, and property coverage. Beyond these core areas, Eir collaborates with its partners to create innovative insurance solutions that address emerging needs, such as menopause support, fertility coverage, and weather insurance for travel. Today, Eir has more than 225 risk solutions live and over 1.6 million policies sold across 11 countries – including Sweden, Norway, Germany, Spain, Denmark, Finland, Greece, and the Netherlands – with licensed operations to commence shortly in France, Italy, and Portugal. 

The funding will be used to invest in Eir’s team and technology, strengthen its capital base, and accelerate Eir’s European expansion. 

Torgrim Lien, CEO of Eir, said: “This funding round is a strong vote of confidence in our business model and long-term strategy. We are proud that, even in a challenging market environment, Eir has been able to achieve profitability while keeping our loss ratio at best-in-class levels. With Endeit Capital joining our existing investors in backing the business, we now have the resources to further scale our team, strengthen our capital base, and expand our European footprint.” 

Jonne de Leeuw, Partner at Endeit Capital, commented: “Eir is reshaping embedded insurance in Europe with its B2B2X model, AI-driven technology stack, and unique ability to serve mid-sized companies. The company has already demonstrated remarkable growth and resilience, and we are excited to support Torgrim and his team in accelerating their European expansion.” 

Julian Ostertag, Managing Partner at Drake Star, added: “We are delighted to have advised Eir on this important milestone. The company has built an outstanding platform with an impressive track record of growth, profitability, and operational excellence. This financing will enable Eir to continue its journey as a category leader in embedded insurance across Europe.” 

Drake Star Team: Julian Ostertag, Anton Donauer  

Inquiries 

For further inquiries, please contact: 
Julian Ostertag 
Managing Partner, Drake Star 
julian.ostertag@drakestar.com | +49 (0)89 210 207 0 

About Eir  

Eir is a Swedish insurance company founded in 2019 and headquartered in Stockholm. With its EU license, proprietary AI-driven technology stack, and B2B2X business model, Eir enables mid-sized companies to integrate embedded insurance solutions seamlessly into their offerings. Eir has achieved consistent GWP growth, profitability, and industry-leading loss ratios. Its core market is in the Nordics, with growing operations across Europe. 

For more information, visit: www.eirforsakring.com.  

About Endeit Capital 

Endeit Capital is a leading European growth capital firm, investing in technology companies with the potential to become category leaders. With offices in Amsterdam, Hamburg, and Stockholm, Endeit Capital partners with exceptional entrepreneurs to support them in scaling internationally and building sustainable businesses. 

For more information, visit: www.endeit.com.  

About Drake Star 

Drake Star is an award-winning global tech investment bank that has completed over 500 transactions since 2003. The Drake Star global team of experienced professionals and senior advisors across offices in New York, Munich, London, Paris, Los Angeles, San Francisco, Berlin, and Dubai* focuses on mergers & acquisitions and corporate finance services worldwide in Software/SaaS, HR Tech, Digital Services, FinTech, Digital Media, Industrial Tech, Consumer & Retail Tech and Mobility & Sustainability.

Drake Star is the marketing name for the global investment bank Drake Star Partners Limited and its subsidiaries and affiliates. In the USA, all securities are transacted through Drake Star Securities LLC. In the USA, Drake Star Securities LLC is regulated by FINRA and is a member of SIPC. Drake Star UK Limited (FRN 942020) is an appointed representative of Razlin Ltd (FRN 730805), which is authorized and regulated by the FCA. This testimonial was given by a client. The testimonial is no guarantee of future performance or success. This is not a paid testimonial and no material conflicts of interest exist between the person(s) providing the testimonial and Drake Star. © 2025 Drake Star Partners Limited.

*Partner Office