Democrance
ActiveB2B micro-insurance distribution SaaS platform
Democrance helps insurers and financial institutions distribute and scale micro-insurance and embedded insurance products.
Founders
Funding Rounds
Lead: Wa'ed Ventures
Investors: Wa'ed Ventures, Global Ventures
Company states Wa'ed Ventures led the $3M Series A; the earlier 'Veridian Ventures' lead was unsupported.
Lead: Global Ventures
Investors: Global Ventures, Veridian Ventures, existing investors
Company does not label the round or give an amount. Tracxn lists it as 'Series A' dated 2021-06-30 led by Veridian Ventures, which contradicts the company's own statement that Global Ventures led. Global Ventures' Medea Nocentini in Oct 2023 refers to 'when we first decided to invest ... two years later', confirming the 2021 date. Also: https://www.adsmehub.ae/en/explore/post-details/democrance-uae-based-insurtech-raises-funding-from-global-ventures Confidence: confirmed (round 13, Democrance).
Lead: Jabbar Internet Group
Investors: Jabbar Internet Group, Eos Venture Partners, Turn8, F-Horizon Group, Seedstars, angel investors
Company calls it the first external round. Co-led by Jabbar Internet Group (Dubai) and Eos Venture Partners (London); lead_investor field holds Jabbar, Eos is co-lead. Angels from UAE, MENA, Europe, South Asia and the US. Also: https://www.menabytes.com/democrance-800k/ https://mena.entrepreneur.com/technology/insurtech-startup-democrance-raises-us800000-to-make/303496 Confidence: confirmed (round 13, Democrance).
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