Earnix, an Israeli fintech startup Earnix, just raised $75 million in funding to support its expansion plans. The company offers software that helps insurers price their policies more accurately. The round was led by Insight Partners.
Fintech startup raises $75 million to support expansion plans
Earnix is an Israel-based FinTech company that uses advanced AI-powered analytics to help banks and insurance companies tailor their products and pricing. The company recently raised $75 million in a growth round led by Insight Partners.
The new funds will serve to fuel the company’s international expansion. As a result, the company plans to double its global workforce by the end of this year. According to CEO Ziv Avni, it will also broaden its product portfolio.
Founded in 2001, Earnix has been in the financial technology industry for more than two decades. The company’s core product is a software platform for price optimization and product development. With its large data set, Earnix is able to create customized financial products for consumers.
Earnix has developed a unique AI-powered pricing platform that helps banks and insurance companies tailor their offerings to specific customer needs and preferences. This platform offers quotes, courses and financial products in real time. The company’s advanced technology enables banks and insurers to offer customized loans, mortgages and other products.
The company has offices in North America, Europe and Asia Pacific. Earnix plans to continue to grow internationally and accelerate new product development. Investing in its product line will enable the company to quickly adapt to changes in the industry.
Insight Partners led Earnix’s $75 million funding round
Earnix is an Israeli FinTech startup developing artificial intelligence (AI) and advanced analytics software. Its mission-critical systems help global insurers deliver customized products and services. The company is currently valued at over $1 billion.
Earnix offers a proprietary business valuation engine that combines predictive modeling and optimization. This helps banks and insurers offer customized products, loans and deposits. The company’s cloud-based platform encompasses massive datasets.
Earnix’s latest funding round was led by US-based Insight Partners. Other investors included Vintage Investment Partners and Israel Growth Partners.
The new capital will allow Earnix to expand its presence internationally and support M&A activities and product innovation. Earnix will also use the funds to hire more staff.
Its clients include NatWest Group Plc, Liberty Mutual and Israe Dhabi. The company’s personalized offerings are delivered through its proprietary cloud-based platform. Using customer profile data, the platform can tailor rates and offers to each customer’s needs.
Earnix has offices in North and South America, Asia Pacific, Europe and Israel. It is one of the most progressive companies in the industry.
Founded in 2001, Earnix has developed an AI-powered product customization platform. Using a combination of predictive modeling and optimization, the company’s software helps financial services firms predict risk and customer behavior.
Earnix has grown steadily over the years, and its latest funding round has positioned the company as a “unicorn.”
Its software helps insurers fine-tune their pricing policy
Earnix is a leading provider of predictive analytics solutions for the insurance industry. The company is known for its cloud-based platform that combines artificial intelligence with advanced analytics. Some of the company’s offerings include an end-to-end pricing and ratings solution, telematics data for usage-based insurance, and a suite of data management tools. Its offices are located all over the world, from the United States to Europe and Asia. With a recent fundraising of over $75 million, the company is poised to make its mark on the global stage.
Earnix is not new to the market, having launched in 2010 as a spin-off of Givatayim.
