Fintech startup raises $75m to support expansion plans

A FinTech company based in Israel, Earnix uses AI-powered advanced analytics to help banks and insurance companies customize their products and pricing. Earnix recently raised $75 million in a growth round led by Insight Partners.

As a result of the new funding, the company plans to double its global workforce by the end of the year. It will also expand its product portfolio, according to CEO Ziv Avni.

Earnix was founded in 2001 and has been in the financial technology sector for over two decades. Earnix’s core product is a software platform used to optimize pricing and product development. Earnix is able to create personalised financial products by analyzing a large amount of data.

By using Earnix’s AI-powered pricing platform, banks and insurance companies can tailor their products to meet the specific needs and preferences of their customers. Through the company’s advanced technology, banks and insurers can offer personalized loans, mortgages, and other products to customers. This platform provides real-time quotes, rates, and financial products.

As Earnix continues to expand internationally, it plans to develop new products and accelerate the development of existing products. By investing in its product line, the company will be able to quickly adapt to industry changes.

Insight Partners led the $75m funding round for earnix

In addition to developing artificial intelligence (AI) and advanced analytics software, Earnix also provides mission-critical systems that help global insurers deliver customised products and services. The company is currently valued at over $1 billion.

The company’s cloud-based platform incorporates enormous data sets and uses predictive modeling and optimization to help banks and insurers offer customised products, loans, and deposits.

Earnix received a round of funding led by Insight Partners. Vintage Investment Partners and Israel Growth Partners also participated.

As well as expanding internationally, Earnix will be able to support its M&A activities and develop new products with the new capital. Earnix will also be able to hire more staff with the new capital.

NatWest Group Plc, Liberty Mutual, and Israe Dhabi are among its clients. The company’s personalised offers are delivered through a cloud-based platform that adapts rates and offers based on each customer’s profile.

One of the most advanced companies in the industry, Earnix has offices in the Americas, Asia Pacific, Europe, and Israel.

Its software helps financial services companies predict risk and customer behavior using a combination of predictive modelling and optimization.

With its latest round of funding, Earnix has become a “unicorn” in its own estimation.

Its software helps insurers price policies more accurately

The company is known for its cloud-based platform which combines artificial intelligence with advanced analytics, which makes it a leading provider of predictive analytics solutions for the insurance industry. An end-to-end pricing and rating solution, telematics data for usage-based insurance, and data management tools are among the company’s offerings. There are offices in the U.S., Europe, and Asia. As a result of its recent fundraising of more than $75 million, the company is poised to dominate the global market.

With its roots in 2010 as a spinoff of Givatayim, Earnix isn’t new to the market. In recent years, the company has gained a slew of high-rolling angels and venture capitalists, allowing it to become a true unicorn. A team of industry veterans, including software engineers, has taken it to new heights.

Earnix’s cloud-based platform enables banks and insurers to re-imagine their businesses. By using artificial intelligence, insurers can provide personalized customer experiences, improve pricing, and enhance customer service. Telematics-enabled devices, for instance, can provide real-time driver information, which can simplify application processes, reduce fraud, and boost solvency. Also, the company’s data management and automation solutions can help insurers manage their insurance policies more effectively while reducing waste and maximizing productivity.

The post Israelbased earnix 75m 1bsolomon timesisrael appeared first on .