Lebanese Insur-Tech Startup, Bsynchro, Raises $1 Million In Second Round Of Funds From Local VCs

Lebanese-based insur-tech company BSynchro just acquired $1 million in their second investment round from its current shareholders Berytech and Phoenician Funds. The investment will be used in developing BSynchro’s multi-purpose software suite of products.

With a diverse line of packages, BSynchro is dedicated to converting insurance-based companies into the digital world in an affordable and seamless process, primarily with a substantial use of new technologies such as Artificial Intelligence, Machine Learning and Robotic Process Automation.

BSynchro is a regional consulting and software development company, currently operating throughout the Middle East. The enterprise specialises in the digitisation processes of insurance-related companies, offering top-quality solutions to their widely diverse customer base of over 80 clients across the region.

Additionally, BYSnchro is a major shareholder in Bahraini-based company, Arima, specialising in core insurances and reinsurance solutions. BSynchro acquired its initial funding from Berytech and Phoenician Fund in 2016 in order to fund the completion of the development of its products, and it further plans to boost sales reach and innovation with this new round of investment.