“Insurance services are at a pivotal moment”: Amsterdam-based MarvelX raises €5.4 million for AI platform

MarvelX, a Dutch InsurTech startup focused on building the operational backbone for the financial industry with a focus on insurance, announced today the closing of their €5.4 million funding round and the launch of ClaimOS MaX.

The funding round was led by EQT Ventures, including angel investors Jobi George (elastic, Microsoft), Keith Grose (Coinbase, Plaid), Yana Abramova (Pretiosum), Humphrey Valenbreder (Partior, bunq), Mehdi Ghissassi (Google Deepmind), Plug and play, among others.

“EQT Ventures has experience building companies in this area. They’ve already successfully done it. We had interested parties with over 150 inbound investor approaches that we selected from but EQT Ventures’ long-term vision and track record in working with teams in this area before made it an obvious partner of choice for us. Their clear, long-term plan to support us on our growth journey resonated with us and we’re looking forward to many more successful milestones together,” said Ali el Hassouni, Founder and CEO of MarvelX.

Founded in 2025, MarvelX claims to be building the AI backbone of the insurance industry. With a platform designed to replace slow, manual workflows with intelligent, evolving systems, the startup reportedly enables insurers to operate faster, more accurately, and with greater agility.

el Hassouni previously served as Head of Data & AI at neobank bunq, where he worked on the transaction monitoring system that is “2.5 times more effective in detecting fraud than other means used by most banks and financial institutions“.

Despite growing interest in generative AI—85% of insurance executives view it as transformational—only 2% of companies have adopted it at scale. MarvelX believes this is due to legacy systems, internal complexity, and lack of fit-for-purpose tools.

Despite years of digital transformation, most carriers still depend on fragmented systems and manual work, slowing down operations and frustrating customers. MarvelX looks to tackle this challenge head-on with purpose-built AI agents that streamline insurance workflows—starting with claims.

At the heart of its offering is a new type of AI OS designed to transform how insurers work. The platform connects to existing systems, centralises operational data, and turns siloed, manual tasks into intelligent, automated flows. It reportedly helps insurers make better decisions faster, reduce errors, and improve compliance across their core operations.

Key capabilities include:

• Application Assessment: Automates document verification and claims evaluation, reducing approval times from days to minutes.
• Spotting fraud: It detects suspicious patterns using real-time data analysis, minimising false positives and losses.
• Customer Communication: Provides personalised updates and proactive notifications, improving customer satisfaction and retention.
• By implementing MarvelX, insurers can reduce operational costs, improve compliance, and deliver a superior customer experience.

“MarvelX is building a next-generation vertical AI company in one of the most operationally complex and underserved industries. Their team combines deep AI expertise with real understanding of the regulatory and data challenges insurers, banks and wealth managers face every day. We’re proud to partner with them to help transform this space,” said Tom Medoza, Partner at EQT Ventures.

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