Qantev, a Paris, France-based provider of an AI-powered platform for health and life insurers manage claims, reduce costs and improve services, raised €30M in funding.
The round was led by Blossom Capital, with participation from existing investors Elaia, Omnes and RAISE Venture.
The company intends to use the funds for:
- Enhancement of the platform, to accelerate R&D efforts to expand its platform, adding advanced AI modules that further optimize claims processing and decision-making;
- Recruitment of AI and engineering talent; and
- Global expansion, particularly in North America and Asia.
Founded by CEO Tarik Dadi and CTO Hadrien De March, Qantev provides a suite of AI-powered solutions for customers, including AXA, Generali and FWD, to automate the claims process. The platform uses historical claims data to understand patient journeys and behaviours in individual markets before helping insurers across these regions make faster, more accurate decisions. The company embeds complex, AI-driven software into the business-critical operations of insurance companies, effectively reproducing the expertise medical professionals bring to assessing health claims.
Today, Qantev powers the claims processes of customers in 12 countries from the US to Mexico, Asia and beyond. The company has teams in Paris, Hong Kong and the UK and has more than doubled its headcount over the past 12 months. This latest funding round takes the total raised to over €40m.
FinSMEs
15/10/2024