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IBISA raises $3m to expand parametric insurance offering in Asia & Africa

June 25, 2024

IBISA, the global climate insurtech, has successfully closed a $3 million funding round, with the proceeds set to go towards scaling its parametric insurance solutions for weather-related risks in Asia and Africa.

The round was led by The Acumen Resilient Agriculture Fund (ARAF) and Equator, alongside the Asian Development Bank Ventures (ADBV) and existing investors including Ankur Capital.

It has been revealed that this strategic investment is intended to enhance IBISA’s capacity to deliver accessible parametric insurance products.

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