Foliume raises $1 million

Madrid-based Foliume has raised $1 million in seed funding to scale its AI-powered platform for insurance distribution.

The round was led by Pitchdrive and Íope Ventures, the investment arm of Telefónica Insurance and Wayra, with participation from insurance and tech industry veterans.

Founded three years ago, Foliume helps brokers automate repetitive tasks like quote comparison, data entry, and renewals. Its AI assistants are built specifically for the insurance industry, improving speed and accuracy without the need to retrain generic models. The funding will support product development and expansion across Europe.

The earlier version of Foliume 👇 promised to automate agents’ portfolio growth. It has since dialed up the advisory side and dialed down the salesy side.