Award-winning insurtech startup expands focus to life insurance sector, plans major funding round
Sydney, AUSTRALIA - Simfuni, the award-winning insurance technology startup, today announced its plans to expand further into the Australian market, with a particular focus on life insurers seeking to deliver operational efficiencies and modern customer experiences. The company, which has gained recognition for its innovative approach to streamlining insurance payment experiences and back-office operations, is preparing for a significant funding round to fuel its growth and international expansion.
Founded by entrepreneur Shaun Quincey, Simfuni has quickly established itself as a leader in the insurtech space. The company's platform integrates seamlessly with existing insurance systems, offering a suite of tools that enhance customer experience, improve back-office efficiency, and ensure compliance at scale.
"We're at an exciting inflection point in our journey," said Shaun Quincey, CEO and co-founder of Simfuni. "Our initial success in New Zealand has validated our approach, and we're now bringing our technology to the broader Australian market. We're particularly excited about the opportunities we see in the life insurance sector, where there's a strong demand for solutions that can modernize customer interactions and streamline operations."
Simfuni's expansion comes on the heels of several notable achievements, including being named the 2024 Startup of the Year by FinTechNZ and recently winning the ANZIIF Insurtech Start-Up of the Year at the Australian Insurance Industry Awards. The company's technology has been particularly well-received for its ability to offer flexible payment options for policyholders while simultaneously improving back-office efficiency through automated reconciliation and arrears management with digital workflows.
To support its growth plans, Simfuni is working towards a funding round targeted for the end of Q1 2025, with plans to raise over $10 million. This capital will be used to accelerate product development and fuel the company's expansion into new markets, throughout Asia.
"Simfuni represents the future of insurance technology," said Barnaby Marshall, Icehouse Ventures partner an early backer of the company. "What sets them apart is their deep understanding of both the policyholder experience and the complex back-office operations of insurers, alongside their expertise in payments. Their platform addresses critical pain points in the industry, and we're confident in their ability to scale and capture a significant share of the market."
As Simfuni looks to the future, the company remains committed to its mission of transforming the insurance industry through technology. With its sights set on the global market and a robust product roadmap, Simfuni is well-positioned to continue its trajectory of growth and innovation in the years to come.
Key Facts:
Award-winning insurtech startup expands focus to life insurance sector, plans major funding round
About us:
Simfuni is an award-winning insurtech startup that provides innovative solutions for insurance businesses to enhance customer experiences, streamline back-office operations, and ensure compliance at scale. Founded in 2022 by entrepreneur Shaun Quincey and Damon O’Neill, Simfuni's platform offers modern e-invoicing solutions, customer self-service tools, and AI-driven automation to transform the back office and policyholder insurance experience.
For more information about Simfuni and its solutions, visit www.simfuni.com.
Contact details:
Anthony Spargo
anthony@newromans.co
