Lebanese insurtech start-up BSynchro has raised $1m in fresh funding from its current investors including Berytech Fund II and Phoenician Funds I.
Headquartered in Beirut, BSynchro operates as a software development and consulting company and maintains operations in GCC, Levant, and Africa.
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Additionally, the insurtech firm owns a majority stake in a Bahrain-based firm Arima that specialises in core insurance and reinsurance solutions. It serves over 80 clients across 25 nations.
Founded in 2005, BSynchro provides claims management, online insurance aggregator and digital insurance and reinsurance broker solutions.
The insurtech firm intends to invest the fund to develop its product line up using artificial intelligence (AI), machine learning and robotic process automation, among others.
BSynchro closed its first funding round in 2016 from Berytech Fund II and Phoenician Fund to support the product development.
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By GlobalDataAs per the information available on BSynchro’s site, its clients list includes AXA Middle East, Arabia Insurance Company, ADIR Insurance, Health Authority – Abu Dhabi, among others.
