, an Egyptian insurtech startup, recently secured a significant equity funding round of $1 million to expand its team, enhance its product offerings, and strengthen its brand presence. Established in 2020 by Adham Nauman, Omar Ezz El Din, and Shady Elohfa, delivers comprehensive insurance solutions. Its primary focus areas include medical, automotive, home, and business insurance. Additionally, the startup offers services in managing client claims with insurance companies, operating with the official authorization of Egypts Financial Regulatory Authority (FRA).
Alter Global, a renowned international venture capital firm deeply committed to emerging markets, orchestrated a $1 million funding round. Furthermore, Digital Venture Partners (DVP), the corporate venture capital division of the Qatar Insurance Company, a major insurance conglomerate in the MENA region, actively participated in this funding. Amenli benefits greatly from this injection of funds as it prepares to unveil inventive insurance offerings tailored to current and burgeoning customer demographics.
The startup is dedicated to addressing unmet insurance needs and aims to create innovative distribution channels, enhance efficiency, and widen its market presence. Notably, Amenli is focused on expanding its presence in the B2B2C sector by utilizing its insurance API.
The startup has witnessed impressive growth, achieving a fivefold increase compared to the previous years same period. With the recently acquired funding, it anticipates a faster pace of expansion.
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