Idékapital has invested in Simplifai, an Oslo, Norway-based business that specializes in AI automation solutions for banking and insurance.
The deal’s total value was not made public.
Use of funds
The money will be used by the business to increase operations and development initiatives.
Other offices
- Netherlands
- Ukraine
- Pune, India
About Simplifai
Under the leadership of CEO Bård Myrstad, Simplifai offers an AI Automation platform that is utilized to develop various solutions for the banking and insurance sectors, such as client engagement, underwriting, claims processing, and input. InsuranceGPT, the company’s new flagship product, gives insurers complete business process automation capabilities. InsuranceGPT uses generative AI to give accurate and secure replies while enabling enhanced communication between insurers and their clients.
“ Ideal Capital was the perfect partner for Simplifai. They are excellent partners because of their extensive background in growing businesses with comparable paths. Thanks to Idékapital’s proficiency in product market preparedness and global expansion, we are well-positioned to quicken our growth trajectory and generate significant influence in the banking and insurance industries.”
CEO Bård Myrstad
About Idékapital
Idékapital (‘i-deh-capi-TAL’) is a leading technology-focused investment firm helping visionary entrepreneurs whose companies redefine industries, solve global challenges, and leave a lasting legacy. They invest in Nordics and UK and have approximately 2bn NOK (€180m) under management.
