The Strategist

Israeli fintech start-up Earnix becomes a 'unicorn'

02/22/2021 - 03:51

Israeli startup Earnix, which helps insurers and banks personalise financial products using artificial intelligence and analytics, has raised $75m in its latest round. Investors valued the company at $1bn, turning it into a "unicorn".

Israeli startup Earnix, which helps banks and insurance companies personalize financial products using artificial intelligence and analytics, has raised $75 million in its latest round of investment. It was reported by Bloomberg.

Vintage Investment Partners, Jerusalem Venture Partners and Israel Growth Partners, which have already invested in the company, took part in the round, and it was led by US venture capital fund Insight Partners. As a result, the startup's valuation was $1bn, giving Earnix the "unicorn" status.

Erel Margalit, founder of Jerusalem Venture Partners, who will soon become chairman of Earnix, said the round is the last for the company before its upcoming IPO.  

The startup plans to use the funding it receives to grow in overseas markets, develop new products and support existing deals with customers. "We are growing very fast and plan to accelerate our rapid growth by hiring new employees worldwide," said Earnix CEO.

Earnix was founded in 2001 and operates in the North American, European and Australian markets. In total, the startup has attracted more than $100 million in investment since its inception.


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