Funding Round attributes
Qantev, a Paris-based insurtech company, has raised €30 million in a funding round led by Blossom Capital, with participation from existing investors Elaia, Omnes, and Raise Venture. Founded in 2019 by former AXA data scientist Tarik Dadi and ex-quantitative analyst Hadrien De March, Qantev provides AI-driven software aimed at optimizing health and life insurance claims processing. The company’s platform automates the claims process, significantly reducing the time taken for processing, while enhancing accuracy through the analysis of historical claims data. This fresh capital will be used to expand Qantev’s technology, bolster research and development, and fuel international expansion efforts, particularly in North America and Asia.
The global health insurance industry faces rising costs, aging populations, and increasing chronic diseases, creating a demand for more efficient systems. Qantev addresses this need by enabling insurers to scale operations and reduce inefficiencies without compromising service quality. The company’s platform has been deployed by major insurers such as AXA and Generali, demonstrating its ability to cut operational costs and handle growing claim volumes.
CEO Tarik Dadi emphasized that the rising operational demands on health insurers require innovative, scalable solutions. Dadi highlighted Qantev’s success in easing administrative burdens, allowing healthcare professionals to focus on patient care rather than claim processing. With the new funding, Qantev plans to expand its workforce, particularly in AI and engineering roles, to further enhance its platform's capabilities and meet the increasing global demand for AI-powered claims management.
Blossom Capital’s founder, Ophelia Brown, expressed confidence in Qantev’s potential to solve pressing challenges in the insurance industry, citing the company’s expertise in AI and data analytics as critical factors in its success. According to Brown, Qantev is well-positioned to revolutionize claims processing in a rapidly evolving market.
The company currently operates in 12 countries, including the U.S. and Mexico, and its workforce has more than doubled in the past year. The €30 million raised brings Qantev’s total funding to over €40 million. This financial backing allows Qantev to continue developing solutions that address key challenges in the insurance sector and position itself as a leader in AI-driven healthcare innovation.
The newly raised capital will be used across three key areas: advancing the company’s AI capabilities, expanding its team, and pursuing international growth, particularly in regions where insurance markets are undergoing significant transformation. The expansion efforts are in response to the increasing global demand for more efficient and cost-effective health insurance systems that can handle complex medical claims at scale.
In conclusion, Qantev’s €30 million funding round signals strong investor confidence in the company’s ability to transform the health and life insurance sectors with its AI-driven claims management platform. With ambitious plans for further innovation and expansion, Qantev is poised to play a pivotal role in shaping the future of insurance technology.
