Fintary Raises $10M to Revolutionize Insurance Commission Management

Fintary Technologies Inc., a startup focused on insurance commission and financial management, has secured $10 million in Series A funding to enhance its AI-powered platform.

Founded in 2021, Fintary aims to automate the commission lifecycle for insurance companies, addressing the labor-intensive and error-prone manual processes traditionally involved. The platform supports complex compensation structures like splits, overrides, and bonuses while reconciling carrier spreadsheets and ensuring timely agent payouts.

Customers reportedly reduce commission processing time from weeks to minutes, improving accuracy and transparency. Besides automation, Fintary offers real-time analytics to provide insurers with insights into profitability by carrier, product, and agent, enabling proactive financial oversight and revenue leak detection. The platform includes a white-label portal for agents to track commissions and performance, boosting agent confidence and satisfaction.

Fintary's technology serves various insurance lines, including life and annuity, employee benefits, health, and property and casualty.

The new investment round, led by Infinity Ventures with participation from Sierra Ventures LP and others, underscores investor confidence in Fintary's capacity to modernize insurance financial operations and improve agent retention.