Telefónica, through its investment arm Íope Ventures, is injecting capital into Wenalyze, an open data analytics platform with a focus on refining payment data categorization within the banking sector. Additionally, Wenalyze aims to enhance the underwriting and policy renewal processes for small and medium-sized enterprises (SMEs) in the insurance sector by leveraging Open Data to complement insurers’ existing data.
Íope Ventures is participating in this funding round, which has already amassed over €1 million and is spearheaded by Athos Capital. Notable contributors to this round include Bankinter, through its venture capital initiative in collaboration with the Bankinter Innovation Foundation, as well as AstoryaVC, an investment fund specializing in InsurTech, and GoHub, the corporate investment entity of Global Omnium. The primary objective behind this funding drive is to secure fresh capital for expanding internationally and capturing a larger market share.
Established in 2022 by Wayra and Telefónica Seguros, Íope Ventures serves as a dedicated investment vehicle targeting fintech and insurtech startups. Beyond financial backing, invested companies gain access to Telefónica Seguros and Wayra’s teams for exploring potential business synergies and opportunities.
Among the startups already in its portfolio, Wenalyze now joins the ranks alongside innovative ventures such as Bdeo, which employs AI to expedite claims processing and insurance underwriting by identifying damages to vehicles and properties, and Mitiga Solutions, which harnesses climate science and AI to predict the impact of extreme weather events on clients’ assets.
Carlos Albo, CEO and co-founder of Wenayze, underscores the platform’s role in providing a holistic solution for insurance companies and banks, empowering them to refine sales strategies, enhance customer service, and ultimately drive business growth.
Augusto Pérez Arbizu, CEO of Telefónica Seguros, expresses Íope Ventures’ commitment to supporting the evolution of the insurtech industry, citing their enthusiasm for backing disruptive propositions like Wenayze. Pérez Arbizu highlights ongoing collaborations with Wenalyze to implement their solutions within Spain’s corporate cyber insurance landscape, with a focus on improving data quality and streamlining the renewal process.
