Egyptian insurance technology (insurtech) startup Amenli has successfully closed a $1 million equity funding round, led by Alter Global, a prominent international VC firm. Amenli, founded in 2020, offers a range of insurance services with a focus on medical, car, home, and business coverage. The startup holds a license from Egypt's Financial Regulatory Authority and handles client claims on behalf of insurance companies. With this funding, Amenli plans to expand its team, enhance its product offerings, and further develop its brand. The startup aims to introduce new insurance products, expand its distribution channels, and focus on the business-to-business-to-consumer sector while leveraging its insurance application programming interface. Amenli has shown significant growth, and this investment will help accelerate its expansion in Egypt's underpenetrated insurance market.
Digital Venture Partners, the corporate venture capital arm of the Qatar Insurance Co, also participated in the funding round. Amenli's growth potential and commitment to revolutionize the insurance landscape in Egypt have garnered strong support from experienced investors in the tech and insurance sectors. With the backing of these prominent investors, Amenli is poised to strengthen its position and provide innovative insurance solutions to individuals and small and medium-sized enterprises in Egypt. The insurtech startup's success in securing this funding reflects its dedication to expanding and enhancing the insurance experience in the region.