Democrance, a Dubai, UAE-based insurtech startup, raised US$800k in seed funding.
– Jabbar Internet Group,
– Eos Venture Partners,
– F-Horizon Group,
– Seedstars, and
– angel investors.
The company intends to use the funds to continue to develop its tech platform and grow the team.
Led by Michele Grosso, CEO, Alberto Perez, COO, and Damian Dimmich, CTO, Democrance is an insurtech startup which aims to create partnerships between insurance and telecommunications companies that enable populations who were previously excluded to get access to protection opportunities.
The company’s platform enables insurers to access customers via their mobile phone and administer insurance policies via a fully digital and automatized system. At the same time, mobile network operators can increase loyalty and revenues from new and existing customers by offering insurance programs.