The insurance provider raised the cash as telecom company Telenor agreed to incorporate an Asian joint venture into MicroEnsure.
MicroEnsure, a UK-based company that provides insurance to customers in emerging markets, has raised $10.4m in funding from investors including telecommunications company Telenor.
The round also included Sanlam Emerging Markets, AXA, Omidyar Network, the World Bank-backed International Finance Corporation (IFC) and Opportunity International, from which Telenor spun out in 2008.
Telenor took an equity stake in the company in the present round by converting debt and rolling up its 51% stake in joint venture MicroEnsure Asia into MicroEnsure.
MicroEnsure sells…
