How This European Startup Is Redefining Life Insurance Before and After Loss

Jan de Vries · 2026-08-25

Solace Care, a Stockholm-based digital platform for end-of-life planning and support, just secured a significant pre-Seed investment of $2.3 million. This isn't your typical funding story. It's about a startup tackling one of life's most difficult transitions and changing what insurance actually delivers to families. The round was led by Spintop Ventures, with participation from Plug and Play and a roster of heavy-hitting industry veterans. Think former insurance CEOs and innovation heads from major Nordic firms. That kind of backing sends a clear signal: this model has serious potential. ### The Problem With Traditional Insurance "Today, insurance pays out and then the family is on their own for the next six months," explains Valtteri Korkiakoski, CEO and co-founder. He hits on a raw truth. A check helps, but it doesn't guide you through the mountain of practical and emotional work that follows a loss. Solace Care is built to fill that gap. They're redefining the promise. The support shouldn't just be a payment. It should help the family keep going. ### A Wave of InsurTech Investment This funding lands right in the middle of a major European investment wave in insurance technology and digital care. Over the past year, we've seen over $218 million flow into adjacent rounds. For context, that includes: - Over $27 million for Copenhagen's Festina Finance - $46.2 million for UK InsurTech mea Platform - $22 million for Serbian-Hungarian insurer Ominimo - $12 million for Frankfurt's Oska Health Even in Stockholm, pet insurance startup Lassie raised a hefty $69.2 million. It shows investors are betting big on modernizing every corner of the insurance world. ### More Than a Vault, It's a Guide So, what does Solace Care actually do? It's sold through life insurers and brokers as a digital companion for legacy planning. Before a loss, policyholders use it to record wishes, gather documents, and leave clear instructions—creating a secure vault to share with family. The key shift? It extends the coverage's value from the insured individual to the people who will actually do the work later. After a loss, the platform guides the family step-by-step through the practical administration. We're talking institution by institution, with human support available alongside the digital tools. It turns an overwhelming process into a managed one. ### Rapid Growth Through Partnership Founded in 2025 by Korkiakoski and Josef Karakoca (who previously helped scale digital healthcare company Mindler), Solace Care has moved fast. From its first policyholders in mid-2025, it now covers over 25,000 lives across Sweden, Finland, and Norway. "A year ago we had zero covered lives," says Valtteri. "The growth hasn't come from marketing. It's come from partners who put our solution in front of their customers and saw the positive response." That's a powerful validation. The service is currently available in Swedish, Finnish, and Norwegian, with plans to expand into Danish and Dutch markets. ### Changing the Value Proposition Co-founder Josef Karakoca nails the core challenge: "A product that does nothing for you until you die is a tough sell to a healthy 35-year-old." It's true. But wrap planning and support around that same policy, and it suddenly delivers value to the family right now, not just after a loss. That's the fundamental value they're building. Erik Wenngren, Partner at lead investor Spintop Ventures, agrees: "Life insurance has been sold on the same promise for decades. Solace Care changes what the product actually delivers... That is rare in this industry." The new capital will fuel deeper partnerships in the Nordics and a strategic push into the Netherlands and the UK, where local advisors are already in place. They'll also add senior talent to product and commercial teams. Keep an eye on this one—it's addressing a universal need with a distinctly human touch.