The start-up also offers tech-enabled and data-driven services to the insurance industry.
At present, the insurtech firm processes and digitalises over 120,000 bodily injury claims per annum. It also develops prediction models for more than 50 insurance companies.
Riverside partner Michael Weber said: “We are beyond excited to partner with founder Mr. Olav Skowronnek and his impressive management team.
“Through its market leading position in Germany and its tech-enabled and data-driven business model, ACTINEO has the potential to become the central hub for bodily injury claims and develop into a key insurtech platform for all major insurance providers.”
ACTINEO founder Olav Skowronnek said: “Riverside is the optimal partner for us since they share ACTINEO’s vision and strategy. Furthermore, Riverside has a strong track record in partnering with founders and management teams and has the operating resources to help us achieve our goals.”
The investment in ACTINEO is part of Riverside’s strategy to invest in software, tech-enabled and data-driven business models.
Until now, Riverside has invested in over 25 companies across the globe.