Foliume, an AI-driven insurtech startup, has raised $1 million in seed funding to enhance product development and expand its operations across Europe.
Target Information
Foliume, founded in 2022 and headquartered in Madrid, is an innovative insurtech company that leverages artificial intelligence to streamline insurance workflows. The firm focuses on automating time-consuming aspects of the insurance process such as quoting, renewals, and customer communication, thereby enabling brokers and insurance agents to dedicate more time to client advisory roles and reducing administrative workload.
Having recently secured a $1 million seed funding round, Foliume aims to enhance product development and expand its European reach, aiming to introduce its AI-driven solutions to a greater number of brokers and bancassurance providers across the continent.
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Industry Overview
The insurance industry, particularly in Europe, continues to face numerous challenges, including outdated manual processes, slow response times, and high error rates. These inefficiencies hinder the ability of insurance intermediaries to delive
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Disclosed details
Transaction Size: $1M