Amenli, an InsurTech brokerage licensed by the Financial Regulatory Authority (FRA), has secured a new funding round of $2.3m aimed at accelerating its growth and enhancing its service offerings.
The investment, led by the European Bank for Reconstruction and Development Venture Capital arm, includes a follow-on investment from US venture capital firm Y Combinator, which Amenli says underscores a strong vote of confidence in the broking company’s innovative approach to disrupting insurance distribution in emerging markets.
The funds will be strategically allocated to boost growth through evolving technological capabilities and solutions, diversify distribution channels, heavily invest in product development to digitise the customer experience, and leverage the FRA's initiatives towards eKYC and eSignature.
With a huge population of more than 110m people, Egypt has one of the lowest insurance penetration rates globally, and Amenli aims to help increase insurance penetration across Egypt.
Licensed in 2019, Amenli has achieved significant milestones, including diversifying its acquisition channels and growing its retail distribution partnerships. The company has also increased its SME offerings and maintains robust gross profit margins.
Amenli co-founder and CTO, Mr Adham Nauman, said, “With our technology infrastructure firmly established, we're now focused on evolving it with advanced capabilities, including AI-driven innovations. This approach allows us to amplify efficiencies within our operations, elevate the customer experience, and drive intelligent automation at scale. By integrating AI, we’re not only streamlining our processes but also unlocking new possibilities for growth across strategic verticals, positioning us at the forefront of impactful, data-driven solutions.”
Amenli has quickly established itself as a key player in the Egyptian insurance landscape by providing a wide range of accessible insurance products tailored for individuals, families, and SMEs. The company focuses on speed, convenience, and personalisation, working with top insurance providers to deliver an efficient and seamless claims experience.