French insurtech startup, Qantev, has raised €10m ($11.3m) in a funding round led by Omnes, RAISE Ventures and Elaia Psl innovation fund. The firm specializes in developing an AI-powered decision-making platform for health insurers, which streamlines health data management and automates claims processing. Founded in 2019 by Tarik Dadi and Hadrien De March, Qantev's platform aggregates health data from multiple sources, including patients, medical professionals and insurers, and uses machine learning algorithms to predict patient journeys and improve claims processing. The funds raised will be used to expand Qantev's platform to international markets.
Omnes is a leading private equity firm in Europe with a focus on energy transition, while RAISE Ventures is a Paris-based venture capital firm that invests in innovative technology companies. Elaia Psl innovation fund is a French venture capital firm that invests in early-stage technology startups.
Qantev's platform is designed to improve the efficiency of health insurers' data management and claims processing, which is often slowed down by manual processes and complex regulations. With the help of machine learning, the platform can better predict patient journeys and streamline the claims process, making it easier for insurers to manage their data and provide more efficient services to their customers.
This funding round marks a significant milestone for Qantev, which has already made significant progress in the insurtech industry in just a few years. The company's unique platform has attracted the attention of leading investors, which will enable it to expand and improve its services in the coming years.