Egypt-Based Insurtech Amenli Raises $1 Million Equity Funding Round

Amenli, an insurtech startup based in Egypt, has closed a $1 million equity funding round led by Alter Global, with participation from Digital Venture Partners, the corporate VC arm of Qatar Insurance Corporation and one of the biggest insurance groups in the MENA region.

Founded in 2020 by Adham Nauman, Omar Ezz El Din and Shady ElTohfa, Amenli is licensed by the Financial Regulatory Authority in Egypt, and provides tailored insurance plans to individuals, families and SMEs, liaising with insurance companies to swiftly and efficiently handle client claims.

"This funding round is a substantial validator and a strong vote of confidence for Amenli, particularly amidst the current investment and economic environment," Shady ElTohfa, CEO and Co-Founder of Amenli, tells StartupScene. "During the upcoming phase, we are focused on expanding our team, strengthening our product offerings and building a robust brand to deliver unmatched value to our clients. Our dedicated efforts revolve around providing tailored insurance solutions to our client base, empowering them through accessible payment options such as BNPL, convenient onboarding and KYC process, and ensuring a seamless claims process."

The fund will enable Amenli to create new products for new and existing customers, and help them focus on capitalising their Insurance API to excel in the B2B2C space.