KARACHI: Insurance start-up Waada has acquired its rival company MicroEnsure Pakistan at an undisclosed price, the company said in a recent LinkedIn post.

The transaction makes Wada the largest player among all technology-led start-ups in the country’s insurance segment.

Separately, the company also announced a $1.3 million seed funding round. According to Bloomberg, the all-stock deal will bring the number of active customers of Wada to 1.5 million. “Waada aims to add customers using online sign-ups and has a goal to distribute 10m policies in three to five years,” it said.

Published in Dawn, November 8th, 2022