FRANK raises €2.9M for AI assistant for insurance brokers
FRANK, a Portuguese startup, just raised €2.9 million to boost its AI-powered virtual assistant that handles repetitive admin for insurance brokers. The tool connects with channels like email and WhatsApp, reads documents, and fills in insurer portals, cutting average broker admin work by about ten hours a week. Over 350 brokerages in Portugal are already using it. Most of the new funding goes into tech development and prepping for international expansion.
- €2.9M round led by Armilar and Start Ventures
- FRANK’s AI tool handles 70,000 tasks monthly
- Over 1,500 users at 350+ brokerages in Portugal
- Company aims for international market entry in 2027
Sources covering this
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