When Addenda first joined the Accelerator program in May 2019, they were a small but ambitious InsurTech business focused on digitizing and automating insurer-to-insurer reconciliation via their blockchain enabled technology. At the beginning of their journey with us, they were looking for support to make key industry connections and sign-on their first clients. We helped them realize that ambition through our work together, providing financial modeling and fund-raising support as well as introducing them to key market players. In October 2019, Addenda launched their live blockchain platform, the first of its kind in the Middle East, with a number of the UAE’s top insurers now on their platform.
We walked into MBRIF as 3 guys with a bunch of concepts and they helped us with laser focused lenses to make us exactly understand what our unique value proposition was. This helped us raise funds at a suitable valuation we calculated together, and go from zero to nine clients in a very short period of time. I can happily say we are much more mature as a company and as people thanks to the team at MBRIF.Walid Dib, Addenda Co-Founder