WorldCover

lendingother lendinginsurtechp2p insurance

FOUNDING YEAR: 2015
LOCATION: United States
Last Update: 18/10/2019

Subscribe to the MEDICI Inner Circle Membership and gain access to an exclusive WhatsApp community where you can engage in discussions with global industry experts!

About

WorldCover offers peer-to-peer investments that provide insurance to the global poor. We connect a growing pool of investors who seek uncorrelated investment returns and impact from their capital with a huge and growing need for natural disaster insurance in the developing world. WorldCover's platform improves food and income security for smallholder farmers in developing countries. More than 70% of the 2.5 billion people living at the base of the pyramid throughout the world rely on agriculture for income and sustenance. Farmers face a number of major risks to their livelihoods which they cannot control. Insurance gives them a sense of security even if they have a bad harvest, allowing them to improve their diets, invest in their farms, and send their children to school.In an increasingly interconnected world, diversified markets are becoming harder and harder to find. WorldCover's investment products offer both retail and professional investors attractive yet uncorrelated returns with the world's financial markets.

MEDICI Analysis

WorldCover offers peer-to-peer investments. It connects a growing pool of investors who seek uncorrelated investment returns and impact from their capital with a huge and growing need for natural disaster insurance in the developing world.

Focus

PRODUCTS & SERVICES

P2P lending platform for crop insurance - connect social investors with farmers. The platform helps farmers from natural disasters and also improves food and income security to their livelhood.

MAIN CLIENTS

Farmers and Retail investors

PRIMARY PROBLEM SOLVED

The platform protects farmers from natural disasters and gives investors diversified returns and direct social impact.

COMMENT

Worldcover leverages online data and technology to quickly asses the risk of the desired insurance policy. It also use satellites to monitor the rainfall and trigger payouts automatically.

People

FOUNDERS

Christopher Sheehan

BOARD MEMBERS AND ADVISORS

Christopher Sheehan

Shiliang Tang

NUMBER OF EMPLOYEES

1-10

INVESTORS:

500 Startups

Momentum

FUNDED

NO

TOTAL FUNDING

$120 K

DATE OF LAST FUNDING

Mar 2017

SEED & PRIOR FUNDING

$120 K

SEED CLOSED ON

Mar 2016

LISTED

NO

COMMENT

Convertible note: $100 k raised in Apr 2016.

Join the exclusive global FinTech community

Be a part of the global FinTech community on WhatsApp