Dubai-based InsurTech platform Felix has reportedly collected $800,000 in its seed funding round, which was led by the Oman Technology Fund.
With the close of the capital infusion, Felix will increase the product developments and the growth of its platform in Saudi Arabia, according to a report from Waya.
This investment comes alongside the company’s launch of its software solution for health insurance, the article states. The new tool lets brokers automate their medial insurance quoting activities and provide their clients with an online, self-service solution which enables them to research, configure and buy health insurance.
Felix aims to help brokers cut costs and sell more through a digitally enabled platform. The software can integrate with insurers to enable brokers to get instant quoting and custom tariffs. Furthermore, the platform automatically creates tasks for the team’s to-do list and automatically builds renewal deals for clients.
Fellow UAE-based FinTech platform Ziina recently closed its pre-seed funding round, netting $850,000 from investors including Class 5 Global.
Another Dubai FinTech app to close funding was Tabby, a buy now pay later service, which bagged $7m in its seed round.
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