Insurtech start-up Finaeo raises $1.85m in seed funding round
Toronto-based insurtech firm Finaeo has closed a CAD2.25m ($1.85m) seed funding round led by Impression Ventures and featuring participation from 500 Startups, iGan Partners and Robo Ventures. In addition, Christian Lassonde of Impression Ventures will join Finaeo's board. The company has developed software aimed at financial advisers, which uses a proprietary CRM engine to automate back-office tasks. The new funds will be used to employ engineers to develop the core platform. 

Finaeo, a Toronto, Canada-based insurtech fintech company, closed its $2.25M seed funding round.

The round was led by Impression Ventures with participation from Toronto-based angel investors, 500 Startups, Robo Ventures and iGan Partners. In conjunction with the funding, Christian Lassonde, Founder and Managing Partner, Impression Ventures, will be joining the Finaeo Board.

The company intends to use the funds to hire engineers to continue development of the core platform and marketplace.

Led by Aly Dhalla, CEO, and Donald Chu, COO, Finaeo provides financial advisors with a software as a service based platform to automate their back-office administration via a digital assistant powered by a custom-built CRM engine.

The platform is built for financial advisors, particularly with a focus towards group benefits and individual/voluntary insurance.

FinSMEs

05/09/2017