Insurtech startup BSynchro raises $1 million of capital as they look to transition insurance related companies into the digital world in a speedy and affordable way
BEIRUT, June 2019: BSynchro Holding SAL has recently announced that it has raised $1 Million of additional capital from its current shareholders Berytech Fund II and Phoenician Funds I.
BSynchro is a Beirut based regional software development and consulting company, currently operating in GCC, Levant, and Africa. It also has a majority stake in a Bahraini based company, Arima, specialized in Core insurance and Reinsurance solutions.
The group specializes in the digitization processes of insurance related companies, offering state of the art front end solutions, and has a wide and diverse customer base of more than 80 clients across 25 countries.
BSynchro Holding received its first funds from Berytech Fund II and Phoenician Fund in 2016 to complete the development of its products.
it plans on going even further in its sales reach and innovation with this new round of investment.
The newly received funds will be invested in developing BSynchro’s multi-purpose suite of products dedicated to transitioning insurance related companies into the digital world in a speedy and affordable way, notably with an extensive use of new technologies such as Artificial Intelligence, Machine learning and Robotic Process Automation.