Madrid-based Bdeo raises additional €7.5 million to keep expanding its AI insurtech visual intelligence
Summary
Bdeo, a fast-growing technology company providing Visual Intelligence for the insurance and fleet industries, has raised an additional €7.5 million to accelerate its international expansion and strengthen its position across Europe and Latin America. “Based on the impressive results we have achieved and our capital efficiency given the challenging times we’re living in, it is reassuring to receive this trust from investors,” said Julio Pernía, CEO of Bdeo. “While insurers continue to test new process automation technologies, aiming to decrease their loss ratios while increasing customer satisfaction, few solutions have the potential to become widely adopted. Particularly for underwriting and claims, there are key challenges related to the heterogeneous nature of the assets (such as vehicles and properties) and the scenarios being inspected, feeding a complex pipeline of external parties and systems. We believe in the disruptive potential of insurtech based on AI, which, as we know, is revolutionising the business ecosystem and, in this case, will enable greater agility and efficiency throughout insurance operations, thus providing a better service to the end user,” said Paloma Castellano, Director of Wayra Madrid.