Friss, an Utrecht, The Netherlands–based provider of analytics software for fraud, risk and compliance to P&C insurers, raised €15m in Series A funding.
The round was led by Aquiline Technology Growth and Blackfin Capital Partners. As part of the investment, Michael Cichowski of ATG and Maxime Mandin of Blackfin will join Friss’ Board of Directors.
The company will use the funds to further strengthen its solutions, accelerate global expansion and further facilitate the anti-fraud community by enabling cross-carrier and cross border cooperation between insurers.
Led by Jeroen Morrenhof, CEO, Friss focuses on fraud detection and risk mitigation for P&C insurance companies worldwide via business solutions for underwriting, claims, investigations and compliance are ready-to-use. The company’s platform leverages AI and machine learning techniques to deliver the FRISS Score, a risk indication which enables companies to make improved decisions on quotations, policies and claims across all private and commercial lines, to over 130 insurers worldwide.