BIMA receives fresh funding and a new strategic investor: Allianz
Bima, a Stockholm, Sweden-based company providing micro-insurance in emerging markets, announced a $107M financing round.
The financing is led by a $96.6M investment from Allianz X, the digital investment unit of the Allianz Group, with participation from Kinnevik, BIMA’s lead shareholder.
Following the transaction, Allianz becomes BIMA’s largest strategic shareholder. The money will be used to buy out existing investors as well as for a $30M growth round injected in the company.
This round will help BIMA to cement its leadership in micro-insurance and accelerate the delivery of affordable insurance to underserved populations.
Bima, launched in 2010 and led by CEO Gustaf Agartson, developed proprietary technology that delivers convenient and affordable insurance and health products to emerging markets customers who cannot access them through traditional channels.
The company has operations in 14 countries across Africa, Asia and Latin America and has 24 million registered customers to date.