BlueOrchard leads the way for Pula’s $20mn series B round

Climate insurance startup Pula has raised USD 20mn for its series B round led by BlueOrchard Finance, IFC, the Bill & Melinda Gates Foundation, Hesabu Capital and existing shareholders.

With the funding, the company plans to scale its operations over the next five years—beyond its main markets of Kenya, Nigeria, Zambia, Malawi and Mozambique—by expanding its reach in Asia and Latin America.

So far, the company has partnered with over 70 insurance and 20 reinsurance companies.