Dutch AI startup MarvelX has raised $6 million in seed funding led by EQT Ventures to build what it calls a new AI-powered “operating system” for insurance.
The round also attracted angel investors including executives from DeepMind, Plaid, Elastic, Coinbase, Partior, and Microsoft. The company plans to expand its team and product capabilities following the funding round.
The platform, dubbed ClaimOS MaX, uses vertical, agentic AI technology to automate complex operational workflows across the insurance sector, with early adoption already underway at Companjon, one of Europe’s leading embedded insurance providers.
Founded by data scientist Ali el Hassouni, MarvelX aims to tackle a long-standing pain point in insurance: disjointed systems and manual back-office operations that slow down claims, frustrate customers, and increase compliance risk.
“MarvelX is building a next-generation vertical AI company in one of the most operationally complex and underserved industries,” said Tom Mendoza, Partner at EQT Ventures. “Their team combines deep AI expertise with real understanding of the regulatory and data challenges insurers, banks and wealth managers face every day.”
“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,” said Ali el Hassouni, CEO and founder of MarvelX. “We’re looking forward to many more successful milestones together.”
MarvelX’s platform aims to replace fragmented, manual processes in insurance with a purpose-built AI agent framework. The system connects to legacy IT infrastructure, consolidates data silos, and orchestrates workflows with intelligent automation that can learn and adapt over time. MarvelX believes the gap stems from a lack of sector-specific tools and the inherent complexity of integrating AI into heavily regulated environments.
At bunq, El Hassouni led the development of fraud detection systems that were 2.5 times more effective than industry benchmarks. That practical, results-oriented approach to AI deployment is now being applied to modernise an industry often stuck in the digital slow lane.
There is a growing wave of vertical AI startups that apply agent-based intelligence to highly specialised sectors, from finance and legal to logistics and manufacturing. Its focus on insurance reflects both the market’s scale and its urgent need for operational transformation.
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