About MicroEnsure
MicroEnsure is a Financial Services company based in Cheltenham (United Kingdom) founded in 2002, and was acquired by Turaco in September 2023. Micro-insurance is delivered online to low-income individuals and businesses. MicroEnsure has raised $28 million across 5 funding rounds from investors including AXA, International Finance Corporation and Telenor. MicroEnsure was last valued at $44.76 million in July 2017. MicroEnsure offers products and services including MiIncome, MiIdentity, MicroPay, MiConnect, and Coverpoint. Its focus areas include Microfinance, Microinsurance, Internet-First and Sustainability Tech. Its legal entity is MICROENSURE HOLDINGS LIMITED. Its competitors include Saga, Legal & General and BGL Group; 1 of its 3 listed competitors has raised funding.
Company details
MicroEnsure was founded in 2002 in Cheltenham, United Kingdom, within the insurance sector. An online platform is operated to deliver micro-insurance products tailored for low-income individuals and businesses. Coverage is provided for asset protection against damage, risks associated with self-insuring, event cancellations, and related needs. Insurance claims management services are also handled through the platform, supporting operations across various geographies.
- Headquarters Cheltenham, United Kingdom
- Stage Acquired
- SectorsFinancial Services
- Website microensure.com
- Social LinkedIn X Facebook
- Acquired by Waada (Nov 2022)
- Legal Name Microensure Holdings Limited
- Date of Incorporation 16 Nov, 2012
- Jurisdiction CHELTENHAM, ENGLAND
Products & Services of MicroEnsure
MicroEnsure offers a comprehensive portfolio of products and services, including MiIncome, MiIdentity, MicroPay, MiConnect, and Coverpoint.
Offers parametric triggers for short-term loss of income risks.
Provides identity monitoring and restoration for users.
Facilitates micro insurance payments and claims processing.
Enables integration for insurance distribution platforms.
Supports automated claims for various daily risks.
Funding Insights of MicroEnsure
MicroEnsure has successfully raised a total of $28M across 5 strategic funding rounds. The most recent funding activity was a Series B round of $7 million completed in July 2017. This substantial capital infusion reflects strong investor confidence in the company's business model, growth potential, and market opportunities. The funding enables strategic expansion, product development, market penetration, and operational scaling to drive long-term value creation and competitive advantage.
- Total Funding $28M
- Total Rounds 5
- Last Round Series B — $7M
- First Round $24.2M
(Jun 2008)
- Investors Count 7
All 5 funding rounds of MicroEnsure with amounts and investors; the two latest post-money valuations are shown, the rest are part of the premium plan.
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul 2017 | $7M | Series B | $44.76M | Omidyar Network | |
| Mar 2016 | $8M | Series B | $37.76M | Omidyar Network | |
| Jun 2014 | $10.4M | Series B | – | Telenor | |
| Jan 2013 | $2.6M | Series A | $••••• | Omidyar Network | |
| Jun 2008 | $24.2M | Grant | – | – |
| Date | Valuation | Stage |
|---|---|---|
| Jul 2017 | $44.76M | •••••••• |
| Mar 2016 | $37.76M | •••••••• |
| Jan 2013 | $••••• | •••••••• |
Full valuation and stage history of MicroEnsure
Every valuation point, the growth-stage changes (minicorn, soonicorn, unicorn) and the dates behind them require an active premium plan.
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Last known valuation $44.76M (Jul 2017). 9 investors in total: 9 institutional.
Investors in MicroEnsure
MicroEnsure has secured backing from 9 investors, including venture fund and institutional investors. Prominent investors backing the company include AXA, International Finance Corporation and Telenor.
| Investor | Description | Founded Year | Domain | Location |
|---|---|---|---|---|
Investing in technology, digital culture, governance, and business initiatives. | 2004 | omidyar.com | Redwood City, United States | |
IFC is focused on private sector development in emerging markets. | 1956 | ifc.org | ||
Insurance, banking, and wealth management services are provided worldwide. | 1816 | axa.com | Paris, France | |
Voice, data, broadband internet, and television services are provided worldwide. | 1885 | telenor.com | Fornebu, Norway | |
Online fundraising and microfinance services for charities are provided. | 1971 | opportunity.org | United States | |
Provider of life insurance services | 1918 | sanlam.com | Bellville, South Africa | |
Charitable foundation investments on poverty reduction and healthcare | 2000 | gatesfoundation.org | Seattle, United States | |
An online micro-health insurance platform is provided for individuals. | 2018 | turaco.insure | Nairobi, Kenya | |
Waada is recognized as a leading insurance-tech startup in Pakistan. | 2020 | waada.pk | Karachi, Pakistan |
Investor details for MicroEnsure
The complete investor list, round-by-round participation and investor portfolios require an active premium plan.
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Verified entity values are shown only after access is granted.
People of MicroEnsure
1 people are tracked at MicroEnsure (1 in leadership).
| Name | Role | Group |
|---|---|---|
| Leadership |
Complete people profiles for MicroEnsure
Full employee and board profiles, team structure, tenure and professional contact details require an active premium plan.
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Timeline of MicroEnsure
6 dated milestones of MicroEnsure across 21 years, from founding to its latest funding, stage changes and deals.
Competitors of MicroEnsure
MicroEnsure has 3 listed competitors in our database, 1 of them funded. They include Saga, Legal & General and BGL Group.
| Company Name | Domain | Founded | HQ Location | Total funding | Employees | Description |
|---|---|---|---|---|---|---|
| saga.co.uk | 1951 | Folkestone, United Kingdom | 4,189 | Saga is recognized as a trusted British brand for over-50s, offering insurance, holidays, and financial products. | ||
| legalandgeneral.com | 1836 | London, United Kingdom | 10,741 | Life, home, pet, and general insurance services are offered online. | ||
| bglgroup.co.uk | 1992 | Peterborough, United Kingdom | $905.72M | 1,708 | Insurance and financial services are distributed digitally by BGL Group. |
Detailed competitors of MicroEnsure
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Web traffic of MicroEnsure
Websites that share an audience with MicroEnsure (microensure.com).
Websites whose visitors overlap most with MicroEnsure. Affinity shows how closely the audiences match.
| Website | Domain | Audience affinity | Monthly visits | Global rank | Profile |
|---|---|---|---|---|---|
| bimamobile.com | 100% | 1.5K | #7,536,937 | View details | |
| bayportfinance.com | 88% | 19.4K | #963,325 | View details | |
enterprisegroup.net.gh | enterprisegroup.net.gh | 86% | – |
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Related news about Microensure
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Frequently Asked Questions about MicroEnsure
MicroEnsure was founded in 2002 and raised its 1st funding round 6 years after it was founded.
MicroEnsure is headquartered in Cheltenham, United Kingdom. It is registered at Cheltenham, Gloucestershire, United Kingdom.
MicroEnsure is a funded company, having raised a total of $28M across 5 funding rounds to date. The company's 1st funding round was a Grant of $24.2M, raised on Jun 2008.
Annual revenue of MicroEnsure is $3.2M as on Dec 31, 2018.
MicroEnsure was founded in 2002 in Cheltenham, United Kingdom, within the insurance sector. An online platform is operated to deliver micro-insurance products tailored for low-income individuals and businesses. Coverage is provided for asset protection against damage, risks associated with self-insuring, event cancellations, and related needs. Insurance claims management services are also handled through the platform, supporting operations across various geographies.
MicroEnsure's top competitors include Legal & General, Saga and BGL Group.
MicroEnsure offers MiIncome, MiIdentity, MicroPay, MiConnect, and Coverpoint.
MicroEnsure has 9 investors. Key investors include AXA, International Finance Corporation, Telenor, Turaco, and Gates Foundation.
The valuation of MicroEnsure is $44.76M as of Jul 2017.
MicroEnsure operates through Microensure Holdings Limited.
Yes. MicroEnsure was acquired by Waada in November 2022.