Foliume, a Madrid, Spain-based startup leveraging AI to automate and optimize insurance distribution processes, has raised US$1 million in funding.
Investors
The round was led by Belgian fund Pitchdrive, with additional investment from Íope Ventures.
Pitchdrive is a Belgian early-stage venture capital (VC) firm focused on supporting European startups from pre-seed to Series A stages, particularly in sectors such as fintech, health tech, and artificial intelligence.
Foliume Use of Funds
The company will use the funds to consolidate its European operations, expand its sales team in Madrid, and grow its engineering hub in Uruguay.
About Foliume
Founded in 2022 by Martín Fagioli and Guillermo Vergara, Foliume focuses on automating manual, time-consuming processes in the insurance industry. Its AI assistant handles tasks such as quoting policies, renewing contracts, and managing claims by processing large volumes of unstructured data from multiple sources like emails and PDFs. Its platform automates quote generation, policy renewals, data entry, and customer communications. With a development hub in Montevideo, Uruguay, Foliume currently works with clients in Spain, Germany, and Portugal, with plans for accelerated expansion across Europe.
Funding Details
Company: Foliume SAS
Raised: $1.0M
Round: Unknown
Funding Date: May 2025
Lead Investor: Pitchdrive
Additional Investors: Íope Ventures
Company Website: https://www.foliume.com/
Software Category: Insurtech Automation
Source: https://startupslatam.com/foliume-la-startup-uruguaya-que-levanto-us-1-millon-para-revolucionar-el-sector-asegurador-con-inteligencia-artificial/