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Egyptian insurtech startup Amenli has closed a USD 1 M equity funding round to help it expand its team, further build its product and grow its brand. The round was led by Alter Global, an international VC firm focused on emerging markets, with participation from the Qatar Insurance Company’s corporate VC arm Digital Venture Partners (DVP), one of the biggest insurance groups in the MENA region.
Amenli offers its clients all types of insurance, with a focus on medical, car, home and business offerings. It also handles client claims with insurance companies on behalf of their customers. The startup is licensed by Egypt’s Financial Regulatory Authority (FRA). The funding will allow Amenli to introduce new products targeting both existing and new customer segments to satisfy unmet insurance needs as well as develop new distribution channels to maximize efficiency and reach.