Avidea, a Tunisian digital insurance startup raised $696K in its Pre-Series A round to expand its talent and market offering. The investment round was led by Capsa Capital Partners, a private equity firm, and the specialist investment vehicle 216 Capital Fund which is managed by 216 Capital Adventures.
Avidea assists insurance companies in lowering the cost of automotive claims by digitizing the customer journey for a better experience. The Tunisian InsurTech streamlines, defrauds, and optimizes the vehicle insurance claim process by creating a seamless two-way digital claims platform.
The latest acquired funding will be used to add additional talent to the Avidea team while expanding the product’s functional scope and target market, as the company enters a critical phase of industrialization and internalization.