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Parametric cloud outage insurance

Dubai, UAEFounded 2024
InsurTech

First parametric Managing General Agent in MENA offering insurance covering cloud service outages and digital downtime for fintechs, airlines, e-commerce and SaaS providers. Combines cloud outage insurance with real-time risk monitoring. Holds DFSA Category 4 In-Principle Approval.

Founders

Basil Mimi

Co-founder & CEO

Abdallah Banishamsa

Co-founder

Funding Rounds

SeedJan 2026
$1.8M

Lead: Nuwa Capital

Investors: Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate

Exited stealth with this round. DFSA Category 4 IPA received Aug 2025.