Amenli Secures $2.3 Million Investment

Cairo, Egypt – 18 November – Amenli, an insurtech broker licensed by the Financial Regulatory Authority in Egypt (FRA), has secured a new funding round of $2.3 million. The investment was led by the European Bank for Reconstruction and Development Venture Capital arm (EBRD) and includes a follow-on investment from Y Combinator (YC).

The funds will be allocated to boost growth through evolving technological capabilities and solutions, diversify distribution channels, heavily invest in product development to digitize the customer experience, and leverage the FRA’s initiatives towards eKYC and eSignature.

With a huge population of more than 110M people, Egypt has one of the lowest insurance penetration rates globally, and Amenli aims to help increase insurance penetration across Egypt to 5% to reach $20B market size.

“We are delighted to support Amenli as it embarks on its next phase of growth,” said Bruno Lusic, EBRD Venture Capital. “The company has created a great technological infrastructure and data-driven platform with a uniquely differentiated proposition for SMEs and individuals. Egypt’s largely unpenetrated insurance sector offers vast opportunity for rapid growth as adoption of insurance increases over the coming years. We are convinced that Amenli is uniquely positioned to capitalize on that trend with its advanced technology and strong management team.”

“We are thrilled to have secured this investment from major global investors who share our vision for transforming the insurance industry in Egypt,” said Shady El Tohfa, CEO and Co-Founder of Amenli. “This funding will enable us to accelerate growth and continue build technology to enable scaling our business while significantly enhancing our customer experience.”

Co-Founder and CTO of Amenli, Adham Nauman added “With our technology infrastructure firmly established, we’re now focused on evolving it with advanced capabilities, including AI-driven innovations. This approach allows us to amplify efficiencies within our operations, elevate the customer experience, and drive intelligent automation at scale. By integrating AI, we’re not only streamlining our processes but also unlocking new possibilities for growth across strategic verticals, positioning us at the forefront of impactful, data-driven solutions.”