Egyptian insurtech startup Amenli raises $1m funding to fuel growth

Egyptian insurtech startup Amenli has closed a US$1 million equity funding round to help it expand its team, further build its product and grow its brand. Furthermore, Amenli will focus on dominating the B2B2C space, capitalising on its own insurance API. The startup has grown 5X compared to the same period last year, and plans to grow faster with the new capital on board. “This funding round is a substantial validator and a strong vote of confidence for Amenli, particularly amidst the current investment and economic environment. “We are impressed with Amenli’s vision to revolutionise Egypt’s largely underpenetrated insurance market, which currently stands at less than one per cent.