FinTech EasySend has secured $16m in new funding to make insurers and financial services firms’ digital journeys easier as the coronavirus pandemic increases the demand for its services.
The $16m comes from a $11m Series A round led by Hanaco with participation from Intel Capital as well as from a $5m seed round that EasySend had previously left undisclosed. The seed round was backed by Vertex Ventures and Menora Insurance.
EasySend will use the new cash injection to double its current staff across its offices, optimise its product development and expand its customer base in the US, Europe, and Asia.
The last time that we wrote about EasySend, the startup had just been picked to participate in Plug and Play’s European winter programme of 2019. Since then, the no-code AI-powered platform transforming manual processes into digital journeys has noticed an increase in the demand for its services.
“The world is changing. Covid-19 forced traditional enterprises to embrace digital transformation and digital culture at a pace and scale never seen before,” said Tal Daskal, EasySend CEO and co-founder.
“Our no-code platform is uniquely positioned to make this digital transition easier for enterprises from a wide range of industries – especially insurance and financial services – enabling them to create new digital products efficiently and effectively while boosting and creating digital opportunities which not only save on development and maintenance costs, but also drive revenue growth.”
The way it does this is by automating paper-based and manual processes for dealing with sales, customer interactions, claims, policy issuance, customer onboarding, document submission, and remote servicing.
EasySend boasts that its no-code platform converts those processes into digital journeys that can be built, analysed, and optimised by non-technical staff without any coding via a simple drag and drop interface. This frees up IT teams from day-to-day maintenance issues and empowers employees across the enterprise to deliver new digital products in as little as a few days with a focus on an outstanding digital customer service experience.
“Intel Capital chose to invest in EasySend because of its intelligent and impactful approach to accelerating digital transformation to improve customer experiences,” said Nick Washburn, senior managing director at Intel Capital. “EasySend’s no-code platform utilises AI to digitize thousands of forms quickly and easily, reducing development time from months to days, and transforming customer journeys that have been paper-based, inefficient and frustrating. In today’s world, this is more critical than ever before.”
Hanaco most recently backed data analytics platform SQream’s $39.4m Series B+ round back in June.
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