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Qantev Secures €30 Million in Funding to Enhance Insurance Platform

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Qantev, Platform, Management, North America

Business Honor
10 October, 2024

Qantev Secures €30 Million to Enhance AI Claims Management Platform.

Qantev, the leading AI-driven platform to transform health and life insurance claims management, has just announced the funding of an additional €30 million in its latest round led by Blossom Capital, with others participating from existing investors Elaia, Omnes, and Raise Venture.

The new capital will be used to enhance the platform with advanced AI modules, recruit top-tier talent from around the world, and expand into key markets internationally, especially in North America and Asia. Such expansion is expected to meet the increasing demands of insurers as the world's global medical costs are expected to skyrocket.

Founded in 2019 by Tarik Dadi and Hadrien De March, Qantev's software automates claims processing, reducing time from days to minutes. Given the increasing healthcare costs and demand for insurance, the sector stands at $2.38 trillion by 2024. Dadi pointed out that the platform has addressed imperative challenges in the sector and allows insurers to operate more effectively.

Qantev backs claims processing operations in 12 countries-USA, Mexico, among others- And has doubled its staff in the last year. With a funding series, it brings the total capital raised to over €40m. Qantev is the kind of company that stands out for its AI/insurance solutions that can solve the most urgent needs of health insurers, according to Blossom Capital founder Ophelia Brown.