Amenli has secured a $1 million investment to drive the expansion of its product offerings
- 2:39 pm
- October 18, 2023
Amenli, an insurtech startup hailing from Egypt, has recently secured a substantial equity funding round of $1 million. This funding will be used to grow its team, improve its range of products, and enhance its brand visibility. Founded in 2020 by Adham Nauman, Omar Ezz El Din, and Shady Elohfa, Amenli specializes in providing comprehensive insurance solutions, with a primary focus on areas such as medical, automotive, home, and business insurance. The startup also offers services for managing client claims with the official authorization of Egypt’s Financial Regulatory Authority (FRA).
This funding round, orchestrated by Alter Global, a well-known international venture capital firm with a strong commitment to emerging markets, has injected $1 million into Amenli. Additionally, 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 initiative. The funding will significantly benefit Amenli as it gears up to introduce innovative insurance products tailored to the needs of both current and expanding customer demographics.
Amenli is dedicated to addressing unmet insurance needs and has a goal to establish inventive distribution channels, improve operational efficiency, and expand its presence in the market. Of note, the startup is particularly focused on expanding its footprint in the B2B2C sector by leveraging its insurance API.
Amenli, an Egyptian insurtech startup, has secured a $1 million equity funding round led by Alter Global and with the active participation of Digital Venture Partners. This funding will support their efforts to offer innovative insurance solutions, grow their presence in the market, and expand into the B2B2C sector using their insurance API.
The startup has experienced remarkable growth, with a fivefold increase compared to the same period in the previous year. With the recently secured funding, it expects to accelerate its expansion even further
