Madrid, May 16, 2024. – Telefónica, through its investment vehicle Íope Ventures, is investing in Wenalyze, an open data analytics platform focused on improving the categorization of payment data for the banking sector and the policy subscription and renewal process for SMEs in the insurance sector, complementing the data held by insurers with the use of Open Data.
Íope Ventures joins this investment round, which has already raised more than €1 million and is being led by Athos Capital. Other participants include Bankinter through its Venture Capital program developed in conjunction with the Bankinter Innovation Foundation; Astorya VC, an investment fund focused on InsurTech; and GoHub, the corporate investment fund of Global Omnium. The goal is to secure new capital for international expansion and thus gain market share. Íope Ventures was launched as an investment vehicle by Wayra and Telefónica Seguros in 2022 with the aim of investing in fintech and insurtech startups. Invested companies also have the opportunity to connect with the Telefónica Seguros and Wayra teams to explore business opportunities.
Some of the startups that are part of their portfolio, to which Wenalyze is now added, are Bdeo, which uses AI to detect damage to vehicles and homes, accelerating claims resolution and insurance underwriting, and Mitiga Solutions, which, combining climate science, AI, and high-performance computing, helps clients predict the impact of disasters caused by extreme temperatures, fires, and precipitation.
Carlos Albo, CEO and Co-founder of Wenalyze, states: "Our platform offers a comprehensive solution for insurance companies and banks to improve their sales strategies, enhance their customer service, and consequently, increase their business success."
Augusto Pérez Arbizu, CEO of Telefónica Seguros, comments: “At Íope Ventures, the investment fund where Wayra manages the capital, we seek to support the transformation of the insurtech industry. We are delighted to invest in a disruptive proposal like Wenayze. In fact, we are already working with them to implement their solution in cyber products for companies in Spain to improve data quality by enhancing and making the renewal process more efficient.”
About Íope Ventures
Íope is the investment vehicle of Wayra and Telefónica Seguros to invest in InsurTech startups and boost the sector. After 15 years helping to build the startup ecosystem in Spain, Europe, and Latin America, Wayra is taking another step forward and, together with Telefónica Seguros, is launching Íope Ventures, an investment vehicle specializing in insurtech and fintech.
About Wenalyze
Wenalyze, founded in 2018, is a technology company with offices in Valencia and the United Kingdom. Led by a management team comprised of Carlos Albo, CEO; Roger Ferrandis, COO; Vicent Sebastiá, CTO; and David Delgado, CFO, Wenalyze has a team of 24 employees dedicated to innovation in the insurance and banking sectors. It stands out in the market for its commitment to excellence and innovation, offering solutions that leverage the potential of open data, seeking to optimize the classification of activities for SMEs in commercial insurance and enrich payment data in the banking sector to improve KYC and increase sales opportunities.