# Finaeo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/finaeo

- Industry: Software
- Headquarters: Toronto, Canada
- Website: www.finaeo.com
- Total disclosed funding: $2.3M
- Latest round: Seed (Sep 5, 2017)
- Investors on record: 4

## About

Finaeo Inc. operates a digital marketplace that enables independent life insurance brokers to streamline their operations, offering efficient access to insurance carriers and facilitating seamless client interactions.Finaeo Inc. was founded in 2016 in Toronto, Canada. The company specializes in providing a digital platform for independent life insurance brokers, allowing them to access insurance carriers and streamline their sales processes. The firm has conducted a total of 2 deals, with the most recent deal occurring on March 26, 2019, when it raised CAD 5.35 million in a funding round led by Luge Capital, with participation from iNovia Capital, Rising Tide Fund, iGan Partners, and Impression Ventures. The company's CEO is Aly Dhalla, who co-founded the company alongside Donald Chu.Finaeo operates as a digital marketplace designed to empower independent life insurance brokers. Its core product offerings include a comprehensive platform that enables brokers to access top-tier insurance carriers, conduct in-depth product comparisons, generate quotes instantly, and initiate client applications directly within the marketplace. The platform is responsive, functioning seamlessly across mobile, tablet, and desktop devices. Key features include digital onboarding for insurance buyers, customizable Financial Needs Assessments (FNAs), secure document sharing, and robust contact management, aimed at streamlining the insurance sales process. Finaeo primarily serves independent life insurance brokers and their clients, facilitating efficient interactions aimed at converting prospects into policyholders, and is positioned to serve markets across North America and potentially expand into additional regions as part of its growth strategy.Finaeo generates revenue through its digital marketplace, facilitating transactions primarily between brokers and insurance carriers. The company's business model incorporates subscription-based access for brokers to utilize its platform, which includes features such as product comparisons and document management. Additionally, Finaeo may establish partnerships with insurance carriers to enhance product availability and distribution. The revenue structure supports B2B interactions and direct-to-consumer operations, although specific pricing plans for individual services have not been disclosed. The platform's functionality and the value it provides to brokers signify a robust revenue generation approach closely tied to user productivity and client interactions.Finaeo is focused on enhancing its platform and expanding its offerings to support independent brokers more effectively. With the recent CAD 5.35 million funding raised on March 26, 2019, the company plans to invest in developing upcoming products that enhance broker capabilities. Furthermore, Finaeo aims to expand its services into new markets across North America and potentially beyond. The funding will support these growth initiatives, including product innovations and geographical expansion efforts.

## Funding rounds

- Seed, Sep 5, 2017, $2.3M — 500 Global, iGan Partners, Impression Ventures, Robo Ventures

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- iGan Partners (https://capitalatlas.ai/funds/igan-partners) — Seed
- Impression Ventures (https://capitalatlas.ai/funds/impression-ventures) — Seed
- Robo Ventures — Seed