Turn8
Office 1705, Fortune Tower Cluster C, JLT, Dubai, United Arab Emirates
Overview
TURN8 is an initiative launched by DP World to foster a global entrepreneurial and innovation culture. The aim is to inject entrepreneurial know-how and accelerate commercialise-able “ideas to market. ”This revolutionary program will strategically scout for international early stage ideas and concepts that can be refined and brought to market through the TURN8 seed accelerator. The program will take place over 12 months, beginning with a rigorous online and event-based international scouting campaign, followed by a 120-day funded “Rapid Fire” Business Modelling and Prototyping seed accelerator, with extensive follow-on support. This program is a remarkable collaboration between enterprise and innovators.
- Total investments
- 1
- Lead investments
- 0
- Investments · 12mo
- 0
- Active investors
- 0
Sector focus
- Financial Services
- Venture Capital
Investment portfolio
- Democrance
Participated · Seed · Nov 2017
Democrance operates a B2B SaaS platform that enables insurers to launch insurance products and digital sales channels in a few weeks without impacting legacy IT systems. The platform supports property & casualty, life, and health insurance products. Democrance sells to large insurance groups and other clients seeking to digitize processes and expand insurance penetration across different customer segments. The company plans to use the new funding to accelerate growth, achieve profitability, and expand into new geographic markets. As part of that expansion, Democrance has opened an office in Riyadh to enhance its presence in the Saudi Arabian market. Co-founder and CEO Michele Grosso emphasized strong demand for digital transformation among major insurers. Democrance is an insurtech startup based in Dubai that builds a digital platform to enable partnerships between insurance companies and mobile network operators. Its platform lets insurers reach customers via their mobile phones and administer policies through a fully digital, automated system. Mobile network operators can use the platform to offer insurance programs that increase customer loyalty and generate new revenue. Democrance aims to extend protection opportunities to populations that were previously excluded. The company plans to use the seed funding to continue developing its technology platform and to grow the team. Leadership named in the article includes Michele Grosso (CEO), Alberto Perez (COO) and Damian Dimmich (CTO).
Team
No current team members are available.