Spanish insurtech Bdeo gains €1m in funding

Spanish insurtech Bdeo, a start-up focusing on video call technology, has gained €1m ($1.11m) in funding.

The funding was received from Big Sur Ventures and K Fund.

Madrid-based Bdeo utilises video call technology to obtain documentary evidence. Furthermore, it treats it through a powerful visual intelligence engine.

Currently, the Spanish insurtech holds clients such as Mutua Madrileña and Zurich in Spain, Fidelidade in Portugal, and BBVA Bancomer in Mexico.

“The product has been developed, and we are already seeing successful implementation in Europe and Latin America,” said Julio Pernía Aznar, CEO and co-founder of Bdeo. “The goal of this round is to strengthen the existing team in order to grow the company, consolidating ourselves in the markets where we already operate as the leading visual intelligence solution for conducting business.”

In 2016, Startupbootcamp InsurTech chose Bdeo to join its selection process. Launched in 2015, Startupbootcamp InsurTech is a global accelerator based in London that focuses on disruptive and collaborative insurance innovation.

The 23 start-ups chosen to participate in Startupbootcamp InsurTech’s selection days included:

United Kingdom:

•          UK: Blockwise;  Insure a Thing; TrackActive; TradeCrediTech; Port; and Protektr

Europe:

•          Spain: Bdeo;  Sharenjoy; and Wenalyze
•          Ireland: Hublio
•          France: MEDVIR
•          Germany: Reportix
•          Luxembourg: Ensurly
•          Slovak Republic: LimeWoood
•          Sweden: TikkR; LifeSymb; and InsureMyTrans
•          Italy: Axieme

Rest of world:

•          South Africa: Aerobotics;  Emerge Analytics; and Nuvalaw
•          India: Thinqbot
•          US: Adapt Read