Deloitte Legal Telles advises Frank funding round
Deloitte Legal Telles advised Frank, a Portuguese insurtech, on a €2.9 million investment round led by Armilar and Start Ventures. The firm’s mandate also covered the structuring and implementation of an employee incentive plan tied to the company’s new growth phase.
The legal advice spanned two areas of the operation: counsel on the investment round itself and the design of an incentive structure for Frank’s team. The round is intended to support the company’s artificial intelligence platform for insurance brokers and to prepare its international expansion, planned for 2027.
Frank develops artificial intelligence applied to insurance mediation. Its AI Operator carries out administrative tasks within insurers’ systems and portals, intended to free up brokers’ time for client advisory and follow-up work. In under a year on the market, the platform reached more than 350 agencies and 1,500 users in Portugal, processing around 70,000 tasks per month.
The capital raised is expected to allow Frank to expand its research and development activities, strengthen support for brokers and prepare its entry into international markets, says the law firm.
The advisors
The Deloitte Legal Telles team was led by Ofélia Pinto de Queiroz, partner responsible for the Venture Capital practice, with Delber Pinto Gomes and João Pedro Folhadela coordinating the advisory work. Gabriela Marques Duarte, associate, and Filipe Sanches Encarnação, trainee lawyer, also took part in the matter.
