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Thndr Claps » EGY Claps » Startup Spotlight 💡 » Amenli Raises $2.3 Million to Scale Digital Insurance Services💰

Amenli Raises $2.3 Million to Scale Digital Insurance Services💰

by Shams Abbas
October 9, 2021

Y Combinator summer 2021 graduate Amenli has secured a $2.3 million seed round funding to provide digital insurance services in Egypt.

Who is affected🤷: Traditionally, insurance companies in Egypt tend to partner with banks so they can identify high-spending consumers with solid credit ratings & sell them insurance. Those kinds of consumers are the most lucrative. Amenli, on the other hand, is looking to access a $2 billion untapped insurance market, a pool of about 50 million middle-income adults.

Why is this important🤔: Amenli seeks to address the large untapped insurance market in Egypt. When users log onto its platform, they are asked to answer a few questions, and the platform determines which insurance plan, whether life, medical, or motor based on the answers provided. 

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