Bima Raises Funding from LeapFrog Investments, Kinnevik and Others (Pan-Emerging Markets)

Source: Bima

Bima, a provider of mobile-delivered insurance in emerging markets, has raised US$38.4 million in Series C funding from existing shareholders, including emerging markets financial services investor LeapFrog Investments, Swedish investment firm Kinnevik, international telecommunications and media company Millicom, global telecommunications provider Digicel Group and individual investors. The fresh capital will be used for Bima’s expansion into new markets and scaling the company’s distribution model.