Felix – UAE’s insurtech startup raises $800K seed from OTF

ⓘ Featured image: Felix co-founders: Taline Vahanian (L) and Edmond Husseini

UAE’s insurance e-commerce and automation platform, Felix has recently raised $800,000 in a seed funding round led by a Saudi Arabian investor with participation from Oman Technology Fund (OTF). The platform was launched back in January 2019 as a synergy for insurance brokers.

Felix enables insurance brokers to sell motor insurance by automating the process and utilising the internet for sales and distribution.

Commenting on the investment round, Edmond Husseini, co-founder of Felix in a statement said,

“We’re excited to be bringing on board strategic partners in Saudi Arabia and Oman at a time when the insurance industry’s shift to digital sales models is accelerating. With their support, networks, and relationships with regional regulators we will continue to deliver best-in-class software and tools for insurance brokers and agents in the GCC,”

Felix is witnessing big-time potential and engagement since the COVID-19 pandemic has accelerated the need for digital transformation in the insurance sector. On similar lines, Taline Vahanian, co-founder of Felix said,

“Insurance brokers have deep insurance product knowledge and strong relationships with both their clients and their insurance partners that they’ve built up over many years. With this new round of funding, we’re in a strong position to help them deliver even better value and convenience to their clients by leveraging all the benefits technology has to offer,”

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