Switzerland-based insurance management app developer FinanceFox has received $5.5m in a round led by Salesforce Ventures, enterprise software company Salesforce.com’s corporate venturing unit, TechCrunch has reported.
FinanceFox has created an app that can be used to store a variety of insurance policies while also operating as a broker.
The service, which was built on the Salesforce platform, is free to use, with revenue coming from insurance companies that pay for the startup to handle most of the administration and support side of the process.
The round also featured AngelList, Idinvest Partners, Seedcamp and Speedinvest, and will be used to expand FinanceFox’s sales and marketing in its core markets of Switzerland and Germany, and to fund entry into new markets.