BIMA is a technology company.
BIMA is a leader in digital health and insurance, using technology and an integrated ecosystem to deliver affordable care. Operating in six countries across Africa and Asia, BIMA serves over 7 million customers.
BIMA has raised $104.0M across 4 funding rounds.
BIMA has raised $104.0M in total across 4 funding rounds.
BIMA is an insurtech company that builds a proprietary mobile technology platform to deliver affordable microinsurance and health services to low-income customers in emerging markets across Africa, Latin America, and Asia Pacific.[1][2][3] It serves over 36 million subscribers, primarily those living on less than $10 a day, solving the problem of inaccessible traditional insurance and healthcare by enabling paperless, scalable distribution through exclusive mobile operator partnerships and dedicated agents.[1][4][5] With $171 million in total funding, BIMA has demonstrated strong growth momentum, issuing 575,000 new policies monthly and reaching 75-93% first-time insurance customers.[4][5]
BIMA was founded in 2010 in Stockholm, Sweden, by Gustaf Agartson, who serves as CEO, with Rajat Malhotra as CTO.[1][7] The company launched its first operations in Ghana, initially focusing on affordable insurance for underserved consumers before expanding into mobile health services in 2015.[4] Early traction came from replicating this model across 14 countries, building proprietary tech, and forging partnerships with mobile operators and international insurers like Allianz, which propelled it to serve 30-36 million customers.[1][2][4] Key figures like Mathilda Ström, Deputy CEO and a founding member, have driven global scaling and advocacy in microinsurance networks.[4]
(Note: BIMA Technology Srl, an unrelated Italian industrial automation firm, shares the name but operates in a different sector.[6])
BIMA rides the insurtech and digital health wave in emerging markets, where half the global population lacks essential healthcare and insurance access, fueled by mobile penetration and demand for inclusive financial services.[2][5] Its timing aligns with rising smartphone adoption and regulatory shifts favoring digital distribution, enabling mass adoption of microinsurance amid post-pandemic health vulnerabilities.[4] Market forces like underpenetrated low-income segments (bottom-of-the-pyramid) and investor interest from impact funds (e.g., LeapFrog, Allianz X) amplify its reach, influencing the ecosystem by pioneering profitable models that educate customers, bridge gender gaps, and push regulators toward tech-enabled inclusion.[1][4][5]
BIMA is poised for further expansion in underserved markets, leveraging its 36 million-customer base and tech-agent hybrid to integrate AI-driven personalization and deeper health ecosystems. Trends like rising mobile health demand, climate-related risks boosting insurance needs, and impact investing will shape its path, potentially evolving it into a full-spectrum digital health platform. As the global insurtech leader, BIMA's model—delivering vital services to emerging market families via mobile tech—continues transforming lives at unprecedented scale.[1][3][5]
BIMA has raised $104.0M in total across 4 funding rounds.
BIMA's investors include General Catalyst, Kinnevik.
BIMA has raised $104.0M across 4 funding rounds. Most recently, it raised $36.0M Series D in December 2017.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Dec 1, 2017 | $36.0M Series D | General Catalyst, Kinnevik | |
| Jun 1, 2015 | $38.0M Series C | General Catalyst, Kinnevik | |
| Apr 1, 2014 | $23.0M Series B | General Catalyst, Kinnevik | |
| Feb 1, 2013 | $7.0M Series A | General Catalyst, Kinnevik |