Amenli, a leading insurtech broker licensed by the Financial Regulatory Authority in Egypt (FRA) has raised $2.3 million in funding led by the European Bank for Reconstruction and Development Venture Capital arm (EBRD) and includes a follow-on investment from Y Combinator (YC) to accelerating growth and enhancing service offerings.
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The funds will be wisely invested to grow through upgrades of technologies and solutions, expand the distribution channels, invest majorly in product development to bring more of its service online and capitalize on the initiatives already under progress at the FRA regarding eKYC and eSignature.
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“We are delighted to support Amenli as it embarks on its next phase of growth,” said Bruno Lusic, EBRD Venture Capital. “The company has created a great technological infrastructure and data-driven platform with a uniquely differentiated proposition for SMEs and individuals. Egypt’s largely unpenetrated insurance sector offers vast opportunities for rapid growth as the adoption of insurance increases over the coming years. We are convinced that Amenli is uniquely positioned to capitalize on that trend with its advanced technology and strong management team.”
As a relatively new company, Amenli has taken a significant position in the Egyptian insurance market, offering affordable insurance for individuals, families, and SMEs. The company thrives on speed, convenience, and personalization, offering services in collaboration with the leading insurance companies, bringing the best possible claim experience.
Amelia is well-positioned to take advantage of the increasing insurance market possibilities due to a healthy economic climate and increased governmental endorsement of the insurance industry.
“We are thrilled to have secured this investment from major global investors who share our vision for transforming the insurance industry in Egypt,” said Shady El Tohfa, CEO and Co-Founder of Amenli. “This funding will enable us to accelerate growth and continue building technology to enable scaling our business while significantly enhancing our customer experience.”
Co-Founder and CTO of Amenli, Adham Nauman added “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.”
About Amenli
Founded in 2020 by Omar Ezz El-Din, Shady El Tohfa, and Adham Nauman, Amenli shields individuals and companies from price shocks and misfortune with several insurance policies in collaboration with insurance providers locally and internationally. It only takes a click, and Amenli offers you the best coverage options that suit your needs. In comprehending your needs, Amenli comes up with the best policies to guarantee the safety and security of an individual, family, or business. Amenli focuses on a fast insurance process as the company considers it the main goal and the process.
