FRANK Raises €2.9M Seed to Expand AI Operator for Insurance Brokers

FRANK Closes €2.9M Seed Round

FRANK, a Lisbon-based insurtech founded in 2024, has raised €2.9 million in seed funding. The round was led by Start Ventures, with participation from Armilar Venture Partners.

What FRANK Does

FRANK builds an AI Operator for insurance agents and brokers. The virtual assistant connects to channels like email and WhatsApp, reads documents, and carries out back-office work directly in insurers' portals and brokerage systems. Key tasks include:

• Generating quotes
• Following up on claims
• Updating client data

The platform is designed to reduce administrative burden for insurance professionals.

Traction

FRANK's AI Operator is used by more than 350 agencies and brokerages across Portugal. It handles around 70,000 tasks per month and saves brokers an average of ten administrative hours per week.

Founding Team

The founding team previously worked at companies including Lovys, JPMorgan, McKinsey, SAP, and Accenture.

Market Context

The seed round follows a period of growing demand for automation in the insurance sector. Brokers and agents often juggle multiple systems and manual processes, creating opportunities for AI-driven assistants that integrate with existing workflows. FRANK's focus on Portugal provides a base for potential expansion into other European markets.

Acquisition Angle

For acquirers in insurtech, enterprise software, or AI automation, FRANK offers a proven AI Operator with real usage metrics: 350+ agencies, 70,000 monthly tasks, and measurable time savings. The team's background across insurance, finance, and consulting may support scaling. As insurance distribution continues to digitize, FRANK's integration into portals and brokerage systems could make it a strategic target for larger platforms seeking to embed AI-driven back-office automation.