InsurTech Avidea bags $696k in pre-Series A

Tunisian InsurTech firm Avidea has completed a pre-Series A round raising 2 million dinars ($696k).

The funding round was led by Caspa Capital Partners, one of the main private equity investors in Tunisia, as well as 216 Capital Fund, which is managed by 216 Capital Ventures.

Founded in 2017, Avidea claims it helps insurance firms to decrease time and cost of claim management, reduce fraud and get more customer satisfaction by offering their clients a better customer experience in intimating claims.

According to Avidea, the funding round will be allocated to strengthen its team with new talent, develop the functional scope of its product and search for new markets.

The company added that its products – namely DigiClaim and DigiFraud – are already validated and in production at its customers.

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