FRANK raises €2.9M led by Armilar and Start Ventures to automate back-office work for insurance brokers

Portuguese insurtech FRANK has raised €2.9 million in a round led by Armilar and Start Ventures.

Founded by Antonio Castro, Ricardo Vallejo and Alexandre Silva, FRANK has built an AI Operator for insurance brokers. It reads emails, WhatsApp messages and documents, identifies the process, flags missing information, then logs into insurer systems and portals to request quotes, follow up claims or update client data, and returns the result to the broker.

Less than 12 months after it started selling, FRANK is used by more than 350 agencies and brokerages, over 1,500 users in Portugal. It handles 70,000 back-office tasks a month, and brokers report saving around ten hours a week each.

Most of the money goes into developing the technology ahead of international expansion in 2027.

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