How a European Startup is Quietly Redefining Life Insurance

Jan de Vries · 2026-08-25

You know how life insurance works, right? It’s a promise, a payout, a check in the mail after a loved one is gone. But what happens next? According to the founders of Solace Care, that’s when the real work begins for a grieving family. And they’re building a platform to change that. This Stockholm-based company just landed a significant pre-Seed round of $2.3 million, which they’re calling the largest of its kind in Europe for this space. The money’s coming from a heavyweight group, led by Spintop Ventures with participation from Plug and Play and a roster of former insurance CEOs and executives. It’s a clear signal that seasoned industry veterans see something new here. ### The Problem They’re Solving "Today, insurance pays out and then the family is on their own for the next six months," says Valtteri Korkiakoski, CEO and co-founder. Think about that. In the most difficult moment, you get financial support but are left to navigate a labyrinth of logistics, institutions, and emotional turmoil alone. Solace Care wants to shift the paradigm from just a payment to actual, ongoing support. Their digital platform is sold through life insurers and brokers. It’s a two-part service: helping people plan their legacy while they’re healthy, and then guiding their families through every practical step after a loss. It’s like a vault for your wishes and documents, combined with a compassionate, step-by-step guide for your family. ### A Surge in European InsurTech This funding isn’t happening in a vacuum. Over the past year, European investment in insurance technology and digital care has been booming, with over $218 million flowing into adjacent companies. To put that in perspective, here’s a snapshot: - Festina Finance (Copenhagen): Over $27 million to modernize life insurance infrastructure. - mea Platform (UK): $46 million for their InsurTech platform. - Lassie (Stockholm): A whopping $69 million for pet insurance, showing the appetite for new insurance models in the region. It’s a wave of innovation, and Solace Care is riding it by tackling one of the most traditional—and emotionally charged—corners of the market. ### From Zero to 25,000 in a Year The growth story is pretty striking. Founded in 2025 by Korkiakoski and Josef Karakoca (who previously helped scale the digital healthcare company Mindler), Solace Care had its first policyholders in mid-2025. Just a year later, they’re covering more than 25,000 lives across Sweden, Finland, and Norway. "The growth has not come from marketing," Valtteri notes. "It has come from partners who put our solution in front of their customers." That’s the power of a product that resonates. It solves a real, painful problem that existing insurance simply ignores. ### What’s Next for Solace Care? So, what does a $2.3 million pre-Seed round buy you? For Solace Care, it’s all about expansion. They’re deepening their partnerships with Nordic carriers and brokers, but their sights are set further. They’re officially entering the Netherlands and the UK markets, where they’ve already lined up local commercial advisors. The capital will also fuel senior hires in product and commercial operations, building the engine for their next phase of growth. The service is currently available in Swedish, Finnish, and Norwegian, with plans to add Danish and Dutch. The core insight, as co-founder Josef Karakoca puts it, is transformative: "A product that does nothing for you until you die is a tough sell. Put planning and support around it and the same policy suddenly does something for the family right now." It’s a simple but powerful shift—from a distant safety net to an active, supportive tool for living families. In an aging Europe, that’s not just a new product. It might just be the future of how we think about care, legacy, and what we truly leave behind.