14. DEMOCRANCE

Insurance marketplace for the underserved Founders: Michele Grosso Alberto Perez and Damian Dimmich Funding: $1.3 million Investors: Jabbar Internet Group, Eos Venture Partners, Turn8, F-Horizon Group, Seedstars, IFAD

Country: U.A.E. Date of establishment: 2015

Democrance is a digital platform that brings together insurance, remittance houses and telecoms companies. Its main concept is to democratize insurance for all, especially in underserved communities.

In January 2019, it partnered with the American International Group, AIG MEA, to help digitize its operations in the U.A.E., Kuwait, Egypt, Lebanon, Bahrain, Jordan and Oman.