BIMA raises $16.8M from Axiata

Sweden Investments 11 April 2017
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Bima, a Stockholm, Sweden-founded fintech company selling mobile insurance products in emerging markets, announced an investment contribution of $16.8M from Axiata Digital as part of a previous investment round completed in June 2015.

Axiata Digital joins existing shareholders, Kinnevik, Milicom (Tigo), LeapFrog Investments and Digicel and replaces existing shareholders commitment for the second instalment of a C-series fundraising totalling $38.4M. According to the company, BIMA has raised $75 million since launch.

Axiata Digital is the digital services arm of Axiata Group Berhad (Axiata), one of Asia’s largest telecommunications groups.

Bima, founded in 2010 by CEO Gustaf Agartson, sells affordable insurance and mobile health services for low-income families from emerging markets. The company has developed a portfolio of mobile-delivered insurance products, which enable customers to pay via deduction of prepaid airtime credit.