Qantev, an AI-powered platform focused on health and life insurers, has raised €30m in a funding round led by Blossom Capital.
Existing investors Elaia, Omnes, and Raise Venture also participated in the round.
With the new funding, Qantev plans to further enhance its AI-driven claims platform by accelerating R&D, expanding into global markets, and recruiting top AI and engineering talent.
The company is particularly focused on expanding its presence in North America and Asia, where it sees significant opportunities to tailor its platform to local insurers.
Qantev’s AI technology is already used by insurers such as AXA, Generali, and FWD to streamline claims processing from days to minutes.
By leveraging historical claims data, the platform helps insurers make faster, more accurate decisions, improving patient outcomes and reducing operational costs by as much as €8m annually.
CEO and co-founder Tarik Dadi highlighted the challenges faced by insurers, saying, “A perfect storm of increased costs, post-COVID backlogs, chronic diseases, an ageing population, and increased demand means healthcare insurers can no longer keep up with paperwork. The growth we have seen at Qantev over the past 12 months is not only a testament to the work our team has done in solving these challenges but also the need for a solution like ours.”
Ophelia Brown, founder of Blossom Capital, praised Qantev’s approach, adding, “Qantev’s laser focus on the soaring health and life insurance market, combined with its deep expertise in AI, insurance, and data analytics makes it best placed to solve the very real, and rising problems being seen across the healthcare industry.”
To date, Qantev has raised over €40m, with this latest round being a significant milestone in the company’s global expansion efforts.
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