Foliume Raises $1M to Cut Insurance Quoting Time by 90% with Purpose-Built AI

Madrid, April 3, 2025 — Foliume, the AI-first insurtech streamlining insurance workflows, today announced a $1 million seed funding round led by Pitchdrive and Wayra (Telefónica’s investment arm), with support from seasoned operators in insurance and technology. This capital will power product development and support Foliume’s European expansion, bringing its powerful AI assistants to more brokers, bancassurance providers, and insurance agents across the continent.

Built to tackle some of the biggest pain points in insurance distribution, Foliume eliminates manual work from quoting, policy renewals, and customer service — empowering sales teams to focus on high-value, client-facing tasks instead of admin.

“Insurance intermediaries have been stuck with time-consuming processes for too long. Our AI assistants handle the repetitive work – from filling out forms to comparing policies – so brokers can focus on what really matters: advising clients and delivering a great customer experience.”
– Martín Fagioli, CEO of Foliume

Solving Insurance Distribution Bottlenecks with AI

Insurance sales are still riddled with inefficiencies that slow down response times and lead to errors. Foliume is purpose-built to fix this with a platform that automates four core bottlenecks:

• Quote comparisons: Instead of manually checking insurer portals, brokers get quotes automatically aggregated and compared — all accessible through WhatsApp, email, or API.
• Data entry errors: Foliume auto-fills and validates data across documents, significantly reducing risk of costly input mistakes.
• Time-consuming renewals: Renewals are simplified with auto re-rating and smart suggestions for better offers, removing the need to start from scratch each time.
• Slow turnaround: Generating quotes and coverage options takes minutes with Foliume, not hours — drastically improving client response times.

By automating these repetitive and error-prone tasks, Foliume boosts both speed and consistency across insurance workflows.

Built for Insurance – Not a Generic AI Tool

Unlike general-purpose AI platforms, Foliume is trained specifically for the insurance domain. Its SaaS model includes fine-tuned AI models that understand underwriting logic, coverage terms, and policy documentation out-of-the-box.

“We deliberately chose to tailor our AI to insurance, because off-the-shelf AI often misses the nuance of industry-specific tasks. By honing in on insurance use cases, we deliver more precise and reliable automation that brokers and agents can trust day-to-day.”
– Martín Fagioli, CEO of Foliume

This focus enables brokers to onboard fast and start automating without needing to customize or retrain a generic model. Whether via API or WhatsApp, Foliume integrates smoothly into existing workflows.

Backed by Investors with Industry Know-How

Foliume’s $1M round was co-led by Pitchdrive, an early-stage VC focused on high-impact SaaS startups, and Wayra, Telefónica’s open innovation platform. The round also includes a number of top-tier operators in insurance and enterprise software.

“We backed Foliume because they’re solving a real and urgent problem in the insurance industry. The team has built an innovative SaaS platform that helps brokers modernize their operations, drive efficiency, and unlock new revenue streams. Their rapid growth, strong customer engagement, and clear expansion roadmap showed us a business with both momentum and long-term potential. It’s exactly the kind of B2B SaaS company we love to support at Pitchdrive.”
– Koen Christiaens, Founder and Managing Partner at Pitchdrive

"The investment in Foliume is part of our commitment to driving digitalization and innovation in the insurance sector. Through this partnership, we not only support the industry's digital transformation, but also provide insurance professionals with tools that enhance their productivity and effectiveness.”
– Augusto Pérez Arbizu, Corporate Director of Risk and Insurance at Telefónica

The new funding will enable faster rollout of AI-powered features, strengthen integrations with distribution partners, and drive adoption across key European markets.

About Foliume

Founded in 2022 and based in Madrid, Foliume builds AI-powered solutions tailored for insurance intermediaries. Its platform automates time-consuming tasks like quoting, renewals, and client communication so that brokers and agents can spend more time advising clients and less time on admin. With specialized AI models built for the industry, Foliume helps transform how insurance is sold — turning teams into “super agents” with smarter tools.

Start using Foliume and claim your early discounts today at www.foliume.com or reach out via hola@foliume.com.