Finlex to raise €8 million in a round backed by Blackfin Capital Partners and Segenia Capital.

Finlex, a Frankfurt, Germany-based operator of a SAAS platform for automation in the insurance industry, announced raising €8 million ($9.4M).

The money was raised from investors led by Blackfin Capital Partners, joined by Segenia Capital. Proceeds will be used for the expansion of the platform and the expansion of the product range.

Finlex, founded in 2015 by Christian Reddig, Sebastian Klapper and Tomasz Kosecki, built an online insurance platform for commercial and industrial customers with a focus on financial lines such as D&O, cyber, criminal law protection and PI insurance.

The platform offers insurance brokers with a focus on corporate customers a white label solution with market-leading special products and all relevant insurers in one place. From tendering, contract, extension and portfolio functions to an extensive knowledge database, the platform offers brokers their own digital infrastructure. It enables insurers to automate underwriting (robo underwriting) for Financial Lines products and access to the leading industrial brokers in Germany.