Spanish InsurTech startup Bdeo pulls in €1m in funding

Bdeo, which uses visual intelligence to support insurance, has closed its latest funding round on €1m, with investments from Spanish investors Big Sur Ventures and K Fund.

Spain-based Bdeo supports the digital transformation of the insurance industry, helping them improve policy generation, account opening, claims processing and damage assessments.

The platform is a video call technology which remotely documents evidence through visual intelligence software. Using a mobile phone, a user simply starts up a geo-located video call and the technology can remotely capture photos and videos of damage or products, with AI technology protecting from fraud.

Image recognition technology ensures everything is about a product or incident analysed – its platform can even work out measurements. To ensure everything is noted in a report, a user can draw on the stream to point out objects which can then be seen and monitored by the end-user.

Bdeo CEO and co-founder Julio Pernía Aznar said, “The product has been developed, and we are already seeing successful implementation in Europe and Latin America. The goal of this round is to strengthen the existing team in order to grow the company, consolidating ourselves in the markets where we already operate as the leading visual intelligence solution for conducting business.”

K Fund supported last year’s €2.8m funding round of Factorial, a HR and employee benefits supplier. The company operates through a single subscription model that offers work management plans, payslip generation, work counselling, and compensation plans.

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