Insurance company Amenli secures US$2.3m seed round to grow its company

EGYPT – Amenli, an Egypt-based startup backed by Y Combinator and the first Egyptian online insurance firm to be issued an insurance license, has raised US$2.3 million in a seed round to provide insurance services to Egyptians. The new money will be used to grow the company’s personnel, scale quickly, and attract more clients in a market that is predicted to develop at a CAGR of 7% per year over the next five years. Amenli was formed in 2020 by Adham Nauman and Shady El Tohfa to solve Egypt’s $2…

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