UAE 'low-income' insurtech Democrance raises $800,000
Democrance, a UAE-based start-up which provides microinsurance to low-income consumers in the Middle East and North Africa, has raised $800,000 in funding from both domestic and international investors. Democrance allows people without a bank account to purchase coverage on mobile devices. The firm is planning to provide 15 million consumers with policies by 2020. Less than 20% of people in the Middle East and North Africa region currently have a bank account.

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