Phaistos Investment Fund invests in the innovative Greek insureTech Hellas Direct for international market expansion and technology development.
Phaistos Investment Fund broadens its portfolio and extends its investment landscape through its participation in Hellas Direct. Hellas Direct, a digital challenger insurer, is poised to disrupt the legacy insurance sector with its innovative digital approach. The company is led by a strong management team with deep understanding of the insurance sector and a strong inclination towards technology. In a short period of time it has scaled rapidly and achieved exponential growth in Greece and in Southern Eastern Europe region.
Hellas Direct is a forward-looking insureTech that leverages state-of-the-art technology and advanced analytics to revolutionize the insurance sector. Currently, the company employs cutting-edge algorithms and technology to establish a more streamlined insurance framework, offer top-tier insurance products at competitive rates, elevate customer experience, and manage risks more effectively.
Hellas Direct’s platform is primed for global expansion, boasting scalable and validated technology that has undergone successful testing across diverse product lines, geographical regions, and distribution channels.
Hellas Direct is going to transform the insurance landscape with its cutting-edge mobile application, which, thanks to the capabilities of the new wireless networks (5G) will encompass features such as real-time analysis of drivers’ behaviour, detection of car crashes, live tracking of weather conditions and significant events in the area, along with advanced warning notifications and artificial intelligence. Moreover there are products under development that will add more value to the customers of the mobility ecosystem.
The investment by Phaistos represents a significant milestone for Hellas Direct, furnishing the essential funding to propel its growth trajectory, broaden its market presence and boost its digital platform. This collaboration not only affirms the innovative potential of Hellas Direct but also highlights Phaistos’ dedication to nurturing pioneering companies that are revolutionizing/disrupting conventional industries through technology.
About 5G Ventures S.A. and Phaistos Investment Fund
5G Ventures S.A., a Hellenic Corporation of Assets and Participations subsidiary, manages Phaistos Investment Fund and signals an innovative approach in supporting a thriving 5G ecosystem in Greece. Phaistos Fund supports enterprises that develop 5G-related products & services and is an effective bridge between State & Private investments, as it brings together the best of the two worlds. It offers unique capabilities and, through its focus on 5G market, Phaistos is best positioned to produce remarkable returns as well as national economic growth. More information about 5G Ventures and Phaistos Fund are available on www.5gventures.gr website, LinkedIn (www.linkedin.com/company/5gventures/) and Twitter (twitter.com/5GVenturesSA).
