New investment round announced, led by Knight Capital
Openclaims announces a new strategic investment round of 1.75 million euros led by Knight Capital.
The investment will be used to further expand Openclaims’ Repair Distribution Solution, which helps decrease the ecological footprint and financial cost of repairs. Existing shareholders, including Velocity Capital, Tablomonto, and notable angel investors, such as Jeroen Morrenhof, CEO of FRISS, also participate in the round, reaffirming their confidence in Openclaims and its potential.
Openclaims has become a key player in the Dutch motor claims market over the past several years. Its innovative platform helps motor insurers, leasing companies and other automotive companies to increase the efficiency of their claims-handling processes, offer first-class customer journeys, and offers a highly innovative, data-driven Repair Distribution Solution. Openclaims expanded its operations to the Nordics and DACH region in 2022.
The platform helps (international) customers such as Ayvens (former: ALD-LeasePlan, Athlon, Schadegarant, Hedin, Bovemij, Fleetpool and Louwman by significantly lowering their out-of-pocket claims costs, decreasing the ecological footprint of their repairs, and increasing overall customer satisfaction.
This latest investment round marks a milestone for Openclaims, as the growth achieved in 2022 was over 100%.
On top of that, Openclaims also reached profitability in 2023. Openclaims will use the new capital to continue developing its state-of-the-art Repair Distribution Solution, further boosting its competitive advantage, and accelerating its European expansion. With the Repair Distribution Solution, customers can automatically distribute individual damages to body shops that have proven to be more sustainable and cost-efficient for that specific type of damage.
“We are excited to partner with Openclaims, to preserve and expand its status as a market leader of motor repairs software”, says Marco Joosten, Investment Manager at Knight Capital). “The combination of the team and founders’ grit, and the substantial and quantifiable impact on customers and the environment gives Openclaims a clear competitive advantage in the market. Knight Capital sees great potential in Openclaims’ innovative software platform and is excited to work alongside the team to help drive operating results and innovation at Openclaims.”
“Since our inception, we have focused on efficient growth. A path that has led to becoming the Dutch market leader while becoming profitable earlier this year. This investment feels like a reward for our team.”, explains Stephan Stergiou, CEO of Openclaims. “We are delighted to add Knight Capital’s expertise in the enterprise software space to our team and are confident that this will accelerate our European expansion. We remain committed to enhancing our repair distribution solution, enabling our customers to have an answer to fast-changing market circumstances.”