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Calculus leads £4m funding round into insurtech business Optalitix

Calulus has led a funding round in Optalitix, a provider of low code SaaS products, data analysis and AI models to insurers, and other financial institutions, providing £2.5 million of the total £4 million raised.

The funds will primarily be used to expand he sales capacity, invest in marketing and accelerate product development by expanding the engineering team. United Trust Bank subscribed for new equity following an earlier investment and support for the business.

Founded in 2013 by Jonathan Shapiro and Dani Katz, Optalitix allows business processes currently based on Excel to be transformed into robust online systems. It currently has two key products: Optalitix Models, which turns spreadsheets into systems; and Optalitix Quote, which creates a digital underwriting platform for insurers.

Optalitix has customers in the UK and internationally, including major names such as Vitality Health, GoCompare, Lloyd’s of London and United Trust Bank.

Optalitix was advised by White Horse Capital.  

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