Wenalyze raised a €1.7 million funding round led by Athos Capital.

Wenalyze, a Madrid, Spain-based software startup developing an analytics platform for banks and insurance companies, announced closing a €1.7 million ($1.9M) seed funding round.

The money was raised from investors in Spain, led by Athos Capital, and joined by Bankinter via its venture capital programme Bankinter Innovation Foundation, astoryaVC and GoHub, the corporate venturing fund by Global Omnium.

Wenalyze, founded in 2018 by CEO Carlos Albo and Roger Ferrandis, developed a Big Data Analytics platform that allows banks and insurance companies to optimize their underwriting processes, discover new sales opportunities and improve risk control in SMEs. The tool smplfies the insurance process, as it automatically collects information to improve the efficiency and precision of commercial lines’ risk assessment for the banking and insurance sectors.