Lebanon-based BSynchro Holding, an insurance technology company, has raised $1 million from its current shareholders Berytech Fund II and Phoenician Funds I.

The company, which specialises in digitising the process of insurance-related companies, plans to invest the newly received funds in developing its products dedicated to transitioning insurance-related companies into the digital world, notably with the use of new technologies such as artificial intelligence, machine learning and robotic process automation.  

BSynchro currently operates in the GCC, Levant and Africa and claims to have a customer base of more than 80 clients across 25 countries.