Croatia’s Amodo gets $500k for connected customer insurance

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Insurtech startup Amodo has raised $500,000 from Austrian venture capital firm Speedinvest to support its international expansion.

Zagreb, Croatia-based Amodo, launched in 2013 and got its initial funding from SGH Capital and Bee Next Fund.

The company runs an online platform which provides insurance companies with a 360-degree profile of their customers.

The Connected Customer Platform collects data from consumers’ smartphones and other connected devices thus giving insurers more insight into their customers product needs.

This makes it easier for the companies to launch risk prevention programmes, offer on-demand products as well as set up individual pricing.

Consumers on their part can benefit from lower prices as Amodo’s platform allows them to connect everything from their mobile phone to their wearables.

The startup company, led by CEO Marijan Mumdziev, currently has operations in the CEE region but eyes an international expansion.

Copyright © 2016 FINTECH GLOBAL

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