Colombian reinsurance automation startup Sytrex raised $1.1M from Broom Ventures, Aito Capital, Kuiper, and AAC Capital.
Sytrex offers financing and reinsurance companies an AI-powered platform that automates manual processes like document collection, validation, and analysis.
“In reinsurance, our platform allows underwriters to manage policies, analyze documents, and communicate with brokers, streamlining processes that used to take weeks to complete. In financing, we facilitate document collection and validation, income verification, and generate data-driven recommendations,” said Sytrex’s Co-founder and CEO Carlos Chávez.
Sytrex will use the funds to invest in product development and distribution strategy.
“We will allocate 85-90% of the investment to product development, including infrastructure, cybersecurity, and improvements in the accuracy of our models. The remainder will support distribution efforts, including in-person meetings to understand customer needs,” said Carlos Chávez.
Founded in 2024, Sytrex serves clients in the US and the UK.Read more on Forbes.