# Democrance DMCC

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/democrance-dmcc

- Industry: Software
- Headquarters: Dubai, United Arab Emirates
- Website: www.democrance.com
- Total disclosed funding: $0.8M
- Latest round: Seed (Oct 22, 2017)
- Investors on record: 5

## About

Democrance DMCC, based in the United Arab Emirates, specializes in digital insurance solutions that streamline the distribution and management of insurance products across multiple business lines.Founded in 2015 in Dubai, United Arab Emirates, Democrance DMCC operates a digital platform that enhances insurance distribution efficiency. The company was established by Alberto Domínguez, Michele Grosso, and Sandeep Yadav, with Michele Grosso currently serving as CEO. In October 2023, Democrance secured GBP 5 million in funding, led by Saudi Aramco Entrepreneurship Ventures, increasing its total amount raised to GBP 5 million with a current valuation of GBP 25 million.Democrance provides a comprehensive digital insurance distribution platform that facilitates the management and deployment of insurance products across various lines of business, including Property & Casualty (P&C), life, and health insurance. Their core offerings enable insurers to launch new products within a timeframe of 2 to 6 weeks, significantly enhancing operational efficiency and reducing distribution costs by an average of five times. The platform allows clients to streamline policy administration and automate complex underwriting rules, thereby improving sales through a fully omnichannel experience. Democrance serves a diverse client base, including major insurance entities such as AXA and Manulife, reaching end users in over 15 countries across the Middle East, Africa, Asia-Pacific, and Latin America. Notably, their services cater to low-income consumers as well as small and medium-sized enterprises (SMEs), aiming to democratize access to insurance through innovative digital solutions.Democrance generates revenue primarily through subscription-based partnerships with insurance providers, offering a Software-as-a-Service (SaaS) platform designed for seamless integration with existing systems. Clients utilize the platform to enhance their product offerings and distribution capabilities, which facilitates transactions across multiple channels, including direct-to-consumer and B2B models. Revenue is derived from fees associated with the use of their platform, reflecting the volume of policies processed and managed through their system. Additionally, the company focuses on providing value-added services such as data integration and analytics, which further positions them to assist clients in optimizing their underwriting processes and marketing strategies. This transactional framework underscores Democrance's commitment to facilitating rapid market entry and expansion for insurance providers within their targeted segments.In October 2023, Democrance DMCC raised GBP 5 million in venture funding, which will be utilized to enhance its digital insurance offerings and facilitate expansion into new markets. The company aims to target growth in the Middle East and African regions, enhancing their product suite and expanding client outreach. The recent funding will support the development of upcoming products designed to further streamline insurance operations and improve accessibility for low-income consumers.

## Funding rounds

- Seed, Oct 22, 2017, $0.8M — Maktoob.com Inc., TURN8 Venture Capital, Eos Ventures, Seedstars, Financial Horizon Group

## Investors

- Maktoob.com Inc. — Seed
- TURN8 Venture Capital (https://capitalatlas.ai/funds/turn8-venture-capital) — Seed
- Eos Ventures (https://capitalatlas.ai/funds/eos-ventures) — Seed
- Seedstars (https://capitalatlas.ai/funds/seedstars) — Seed
- Financial Horizon Group (https://capitalatlas.ai/funds/financial-horizon-group) — Seed