Daba Facilitates WiAssur's Funding through its Managed Investment Vehicle and Institutional Network

2 min Read November 20, 2023 at 12:15 PM UTC

FUNDRAISING CASE STUDY

Company Name: WiAssur

About the Company

WiAssur is a digital insurance broker providing policies online in Africa. Their platform makes purchasing insurance more accessible.

– Digital insurance broker founded in 2021

– Headquarters: Abidjan, Ivory Coast

– Sectors: Auto, health, life, travel, home insurance

– Business model: B2B2C

Founder

Fundraising through Daba

Daba enabled WiAssur to raise funds from both retail and institutional investors:

Retail via Direct SPV investment: WiAssur aimed to access capital from Daba’s expansive retail investor base and went through our meticulous investment screening process. Upon approval, they were listed live on the Daba application, and we initiated capital calls. It’s pivotal to highlight that all funds were consolidated into a single SPV, ensuring that Daba made a singular, streamlined entry on the cap table.

Institutional via Daba Institutional Investor Network: While Daba facilitated the initial introduction, we ensured WiAssur and investors had the forefront in the subsequent dialogues. This approach proved fruitful as, upon successful investment from Proximity Ventures, WiAssur remunerated Daba with a pre-determined success fee, correlating with the significant amount invested. This underscores our effective strategy in bridging startups with potential investors.

Investment Overview

– Minimum investment: $500 per retail investor via Daba

– Total raised: $300,000 seed round

– Lead investors: First Circle Capital, Microtraction, Proximity Ventures

Impact of the fundraising round

The capital will support WiAssur’s growth into four new African markets, expanded marketing, and growing the team. Leveraging Daba’s platform and network, WiAssur efficiently raised necessary expansion capital from a diverse group of investors.

From the WiAssur CEO

“I had a great experience with Daba! I’m also very happy that thanks to their work I was featured on one of the most watched TV shows on Canal+. I look forward to our continued collaboration.” – Teva Fontaine, WiAssur CEO