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Why GoHub Ventures Reinforces its Investment in Wenalyze

Why GoHub Ventures Reinforces its Investment in Wenalyze

Backing founders with powerful ideas and great performance is part of GoHub Ventures’ motto. That’s why we are happy to share that we have led a follow-on strategic investment on Wenalyze to help this promising B2B SaaS startup consolidate its position in the European market, specially in the UK.

Wenalyze has been linked to GoHub Ventures since 2021 when the startup took part in our former acceleration program. Later in 2022, the startup raised a €1.7M investment round led by Athos Capital with the participation of GoHub Ventures, Bankinter’s Venture Capital Program, and astoryaVC.

With this new operation, GoHub Ventures reinforces its position in the startup due to the company’s potential, its focus on growth, the consolidation of Wenalyze’s team as a reference in the market, and the fund’s focus on the fintech and insurtech sector further strengthen with Depasify’s investment.

In this recently announced strategic investment, existing partners have participated as well as a new strategic partner, an investment vehicle in the insurance sector focused on the later stages of a startup.

Wenalyze, which helps banks and insurers optimize underwriting processes through the use of open data, will use this investment to prepare for its next stage and bolster up its growth goals for 2024.

Reinforcing our investment in Wenalyze is a real proof of our commitment to the founding team, the startup’s prospecting, and its potential to lead the banking and insurance market.” says Inés Calabuig, Managing Partner at GoHub Ventures.

 

Accurate Decisions Based on Real-Time Data

Founded in 2018 by Carlos Albo, David Delgado, Vicent Kun, and Roger Ferrandis, Wenalyze solves a common problem for insurance and banking operators. Thanks to open data analytics solutions, the startup provides these operators with insights to make accurate decisions about SME clients based on real-time data.

As Carlos Albo, CEO and co-founder of Wenayze, explains: “Our platform provides a comprehensive solution for insurance companies and banks to enhance their sales strategies, improve customer service and consequently increase their business success.

The startup classifies SME activities for commercial insurance and unlocks bancassurance opportunities. The use of data among insurance and banking operators is a trend to watch. The more information involved, the less risk for each operation.

Wenalyze will consolidate the development of Big Data and Artificial Intelligence for prediction, analysis and data management for banks and insurance companies, with already more than 25 large corporations using its platform daily.

The startup is currently present in most European countries, and it has offices in the United Kingdom, where it has several high-value clients and has positioned itself as a market leader, where the main efforts and recruitments are now being made.

In the last year, Wenalyze has brought together two products: activity classification and payment identification with information enrichment, both being used by the largest insurance companies in Europe, tripling their sales with international clients.

These products, which combine the use of AI, Big Data and massive data processing in the cloud, deliver results to a large insurance company with hit rates close to 100% and sales increases of 3-5 million euros per year.

May 20 · 2024 Jose Ignacio Ruiz Portfolio Manager