Swedish insurtech company BIMA, which brings mobile microinsurance to underserved families in emerging markets, has raised $16.8 million. The round was led by Axiata Digital, the digital services arm of Axiata Group.
The company has raised $75 million to date.
BIMA aims to provide affordable insurance and mobile health services to low-income families. Most of the company's customers live on less than $10 per day. The explosion of mobile phone use in recent years has created an opportunity to provide mobile microinsurance to those who previously had no access to insurance.