Paris-based insurance technology (InsurTech) startup Orus has secured €11 million in its recent funding round. Orus is focused on offering innovative insurance solutions for the digital age.
The funding round was led by BlackFin Capital Partners a leading European investment company specializing in FinTech and InsurTech sectors. Several other investors also participated in the round including Partech ISAI and ACG Management.
Orus was founded in 2017 with the aim of reinventing insurance by leveraging technology and data analytics. The company’s platform enables individuals and businesses to manage their insurance policies seamlessly making the process more efficient and transparent.
Orus uses advanced technologies such as artificial intelligence and machine learning to assess risk profiles and offer personalized insurance solutions. The platform provides real-time data analysis allowing customers to make informed decisions about their insurance coverage.
The company plans to use the fresh funding to further develop its technology platform and expand its team. Orus also aims to accelerate its growth and expand its customer base.
The COVID-19 pandemic has highlighted the need for digital insurance solutions as traditional processes faced significant disruption. Orus has seen increased demand for its services during this period as people seek more convenient and flexible insurance options.
With the latest funding Orus is well-positioned to strengthen its presence in the insurance market and continue its mission of modernizing the industry. The company’s innovative approach and advanced technology will likely drive further growth and success in the coming years.