Telefonica subsidiary Iope invests in AI insurance platform Foliume

3rd April 2025 17:57

(Alliance News) - Telefonica SA on Thursday announced its participation in a funding round by AI-powered insurance platform Foliume.

The Madrid-based telecommunications firm said subsidiary Iope Ventures has joined Belgian investor Pitchdrive to participate in Foliume's USD1 million funding drive.

Iope Ventures is an investment vehicle that invests in business-to-business startups. Foliume is an artificial intelligence platform designed to streamline and automate key tasks in insurance distribution.

The total amount of Iope's investment was undisclosed.

Foliume says funds will be used to accelerate product development, improve AI algorithms and add new functionalities. The company will also expand its presence in Europe to better connect with brokers, agencies and bancassurance partners.

Foliume Chief Executive Martin Fagioli commented: "This investment will allow us to scale our technology and reach more insurance professionals. We are excited to bring intelligent automation to more brokers across Europe, helping them modernize their operations without disrupting what already works for them."

Augusto Perez Arbizu, corporate director of Risk and Insurance at Telefinica, added: "The investment in Foliume is part of our commitment to promote digitalization and innovation in the insurance sector. Through this alliance, we not only support the digital transformation of the industry, but also provide insurance professionals with tools that improve their productivity and efficiency."

Telefonica shares closed up 2.2% at EUR4.47 in Madrid on Thursday

By Aidan Lane, Alliance News reporter

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