Blockchain and InsurTech Startup Hala Gets Funding Boost from Entree Capital and Mubadala Among Others
Posted on 08/29/2021
Hala is a United Arab Emirates-based startup that focuses on insurance (InsurTech). Hala raised US$ 5 million from a funding round led by venture capital firm Entrée Capital. Mubadala Investment Company also participated in the investment round. EQ2 Ventures, Global Founders Capital, 500 Startups, and Hambro Perks Oryx Fund also participated in the funding round.
Hala was formed in 2018 by brothers Walid and Karim Dib. Hala seeks to reconcile payments between motor insurance firms in the United Arab Emirates through the use of blockchain technology.
Avi Eyal is a co-founder of Entrée Capital.
