Ghanaian Insurtech BIMA Raises Investment from AAIC

AAIC Investment Pte. Ltd. (AAIC) has announced an investment in Milvik Singapore Pte. Ltd. (BIMA) through its Africa Innovation and Healthcare Fund (AHF2), which focuses on healthcare investments in Africa. Although the total investment amount was not disclosed, AAIC typically invests around USD 1 M in its portfolio companies.

Founded in 2010 by Gustaf Agartson, BIMA is a health tech platform providing affordable health insurance and digital health services to underserved populations in emerging markets. Since its launch in Ghana, BIMA has developed a unique healthcare model that integrates telemedicine with local healthcare systems, reducing the cost of care in regions where out-of-pocket expenses can drive households into poverty.

Reportedly, BIMA achieved group-level profitability earlier in 2024 and has fine-tuned its business model to support further growth and scale, with a continued focus on sustainable development in healthcare access. BIMA is also backed by LeapFrog Investments and CapitalSG.