InsurTech100 company Bdeo nets €5m in its funding round

Spanish InsurTech startup Bdeo, which utilises visual intelligence to insurance claims, has received €5m in its latest funding round.

The investment was supported by BlackFin Capital Partners, K Fund and Big Sur Ventures, the company’s COO Ruth Puente announced on LinkedIn.

Bdeo allows consumers to provide visual evidence of an accident through their mobile phone. It works by starting a geo-located video call and the technology will capture photos and videos of the damage or products.

The image recognition technology ensures everything about the product or incident is analysed and can even calculate measurements.

Bdeo previously raised a €1m funding round in 2019 from K Fund and Big Sur Ventures.

The InsurTech was recently named in the third annual InsurTech100 list, which identifies the startups leaders in the industry should know about.

Earlier in the year, fellow Spanish FinTech platform Nemuru closed a funding round on €2.6m from InnoCells, Bankia Fintech Venture, Antai Venture Builder, Encomenda, Lánzame, Plug and Play and Scale Lab Andorra.

The company offers point of sale lending tools to businesses within the vehicle, travel, rental and education industries to provide customers with short-term loans.

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