8 years ago

Bima Raises $97 Million From Allianz For Microinsurance In Emerging Markets

  • Bima, a European startup that provides microinsurance services to low-income consumers in emerging markets, has raised $96.6 million from Allianz X, the digital investment unit of the insurance giant

  • The funding will be used to expand Bima's existing products and move into new countries

  • Bima currently operates in 14 markets and has 24 million customers globally

  • The investment was made at a pre-money valuation of around $260 million and gives Bima a post-money valuation of around $300 million.

      • ProblemFinancial Services

      "Millions of people in emerging markets lack access to basic financial services, including insurance. This makes them vulnerable to financial hardship in the event of unexpected events like illness or death. "

      Solution

      "Bima provides affordable microinsurance products tailored to the needs and income levels of low-income consumers in emerging markets. They offer a range of insurance services, including life, accident, and health insurance, as well as a teledoctor service. These products are accessible through mobile phones, allowing customers to pay for policies in small increments using their airtime."

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