Auto and insurance data platform Xapix raises $2m in its Seed round

Xapix, a developer of digital mobility services for the automotive and insurance industries, has raised $2m in its Seed round.

Investors to the round include Speedinvest, Anthemis and angel investor Felix Staeritz. As part of the deal, Speedinvest principal Andreas Schwarzenbrunner will join the company’s board of directors.

These new funds will be used to strengthen its position in the automotive OEMs space, and further the growth in the US.

Xapix co-founder and CTO Oliver Thamm said, “In 2019 we will further expand in the mobility space and start covering adjacent verticals such as Insurtech, another key industry suffering extraordinarily from legacy systems and data silos. We are excited to further optimise our beautiful user interface as a power tool for anyone with Excel skills, not just developers. Our goal is to reduce implementation time for such IT projects by factor 10.”

Founded in Berlin in 2016, Xapix is now headquartered in San Francisco and builds enterprise software which facilitates data access, exchange, and monetisation for mobility companies. Its solution is used by vehicle manufacturers, suppliers, and service providers to improve the flexibility, speed and security around data.

Insurance companies can use the solution to build policies around vehicle usage, gain improved driver behaviour analytics, and implement on board diagnostics.

Andreas Schwarzenbrunner said, “We believe that the challenges for mobility companies associated with connecting data and working with 3rd parties will continue to rise, primarily driven by a massive growth of diverse data sources. Xapix is solving exactly this pain-point: deploying an easy to use tool that allows clients to orchestrate their data and communicate with their clients through one voice.

“We are convinced that Christian and Oliver are the right team to tackle this problem given their extensive experience in API management for mobility. So we are more than happy to become part of this journey.”

Copyright © 2019 FinTech Global

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