Lisbon-based insurtech startup Frank has successfully secured €2.9 million in a funding round backed by prominent venture capital firms Armilar and Start Ventures.
Founded by industry veterans António Castro, Ricardo Vallejo, and Alexandre Silva, the company aims to cut the administrative back-office bottlenecks that consume a major part of insurance brokers' time.
Venture capital specialists and startup founders frequently discuss these investment milestones at financial technology events and industry summits.
Artificial intelligence automation platform for insurance brokerages and back-offices
Frank features an advanced AI Operator assistant that integrates seamlessly into communication channels like email and WhatsApp, reads documents, interacts with insurer portals, and logs required data automatically.
With agencies reporting an average time-saving of ten hours per broker weekly, the platform currently processes 70,000 routine back-office tasks each month.
Technological integrations of this scale are regularly covered across international software and fintech news outlets.
Armilar and Start Ventures back Lisbon-based startup Frank
The freshly acquired capital will be dedicated to scaling platform capabilities, enhancing customer support for its expanding network of broker agencies, and preparing for cross-border expansion.
As the company sets its sights on international market entry by 2027, it continues to prove how localized artificial intelligence tools can reshape traditional service frameworks.
Emerging European technology companies are increasingly prioritizing back-office workflow automation to unlock sustainable growth in global markets.
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