FRANK Raises €2.9M in Funding

FRANK, a Lisbon-based insurtech startup that develops AI-driven administrative automation for insurance brokers, has secured €2.9 million in a funding round. The company, which provides an AI operator to handle routine tasks like processing quotes and claims, plans to use the new capital to support its client base, accelerate product development, and prepare for international expansion in 2027.

Investors

The funding round was backed by Armilar and Start Ventures.

FRANK Use of Funds

FRANK will deploy the capital to strengthen support for its existing broker clients, conduct research and development to further train and scale its platform, and prepare the team and product for international market entry in 2027.

About FRANK

Founded in December 2024 by António Castro, Ricardo Vallejo, and Alexandre Silva, FRANK provides an AI assistant designed to automate the administrative back-office tasks of insurance brokerages. The platform integrates with various communication channels and insurer portals to manage documentation and task execution, helping brokers shift their focus from manual operations to client advisory services.

Funding Details

Company Website: https://frankinsurance.ai

Company: FRANK
Raised: €2.9M
Funding Date: October 1, 2026
Additional Investors: Armilar, Start Ventures
Company Website: https://frankinsurance.ai
Software Category: Insurtech
Source: https://medium.com/armilar-venture-partners/frank-reaches-2-9-million-to-trade-insurance-brokers-paperwork-for-time-with-clients-7e00a110908a