Amenli pockets $2.3M in new funding round
Updated 11/19/2024 9:12:00 AM
Arab Finance: Amenli, an Egypt-based insurtech broker licensed by the Financial Regulatory Authority (FRA), has bagged $2.3 million in a funding round to expand its operations and improve its services, as per an emailed press release.
The investment was led by the European Bank for Reconstruction and Development’s (EBRD) Venture Capital arm, with additional support from Y Combinator (YC).
The funds will be used to enhance Amenli’s technological capabilities, broaden its distribution channels, and develop digital products to simplify the customer experience.
The company also aims to align with the FRA’s initiatives on electronic Know Your Customer (eKYC) and eSignature systems.
Since launching, Amenli has expanded its retail distribution partnerships and small and medium enterprise (SME) offerings while maintaining solid profit margins.
It provide a range of insurance products for individuals, families, and businesses, emphasizing efficiency and tailored solutions.
The company works with established insurance providers to streamline the claims process. With the new funding, Amenli plans to address the growing demand for insurance services and contribute to the sector’s development, supported by ongoing regulatory efforts.
Amenli aims to improve access to insurance products in Egypt and support the sector’s modernization.
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