Hala has scooped $5 million in its latest funding round led by Entrée Capital. The Abu Dhabi-based firm also had a helping hand from 500 Startups, EQ2 Ventures, Global Founders Capital, Hambro Perks Oryx Fund and Mubadala Investment Company. Walid Dib, CEO and Co-founder of Hala said, “We believe people would love insurance if insurance loved them back. The region’s insurers have focused too hard on selling a product before understanding the customer’s knowledge and preferences. Hala aims to bridge the gap between insurance misconceptions and people’s needs.” Co-founders and brothers, Walid and Karim Dib, initially used blockchain to streamline remittance between motor insurers but then moved to retail insurance in 2020.
Source: Pan Finance