Mantas

What Mantas does

Mantas Limited is a technology-driven Managing General Agent (MGA) incorporated in the Dubai International Financial Centre (DIFC) and regulated by the Dubai Financial Services Authority under a Category 4 licence (Financial Services Permission F011440). Founded by CEO and software engineer Basil Mimi (alongside co-founder Abdallah) after a personal encounter with a disruptive cloud outage, the company applies parametric insurance models — previously common in agriculture and weather risk — to cloud downtime. Its core product, Cloud Outage Insurance, is a parametric policy that monitors hyperscale providers (AWS, Azure, Google Cloud, Oracle Cloud) in real time and pays out automatically when predefined, objectively measurable outage conditions are met, bypassing traditional indemnity-based loss adjustment. All policyholders receive bundled detection and prevention tooling, and policies are backed by A-rated global insurers.

Mantas serves cloud-dependent, digital-first enterprises — fintechs, airlines, e-commerce platforms, SaaS providers, and regulated enterprises — initially in the UK and with stated expansion plans across the MENA region and North America. The product surface was extended in January 2026 with Mantas Cyber Insurance, a modular add-on offering cyber liability, breach response, dark web scanning, employee training, and 24/7 incident response in English and Arabic. A free Cloud Outage Risk Calculator on the website sizes exposure and feeds a self-serve lead funnel into a 30-minute sales call.

The business model is MGA-style premium origination: Mantas intermediates parametric cover and earns commissions/premiums on policies underwritten by A-rated capacity providers, with annual, quote-based pricing. Distribution combines direct DIFC-licensed enterprise sales, a broker and reinsurance channel via UK-based Lockton Re, and a self-serve risk calculator. The company emerged from stealth in January 2026 with a $1.77M seed round (Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, and strategic angels), followed by a ~$349.7K World Bank tranche in May 2026. Mantas is positioned in source material as the MEA's first parametric MGA and serves Professional Clients and Market Counterparties only (excluding retail).

Name

Mantas

Legal name

Mantas Limited

Website

https://mantas.ai

Company type

Private

Founded year

2025

Operating status

Operating

Headcount range

1–10 employees

Short description

Mantas is a DIFC-regulated Dubai-based Managing General Agent offering parametric cloud outage and cyber insurance to digital-first enterprises, fintechs, airlines, and regulated companies across MENA, North America, and the UK.

Ownership category

akta.pro rank

Product category

Parametric Cloud Outage Insurance

NAICS

Insurance Agencies and Brokerages (524210)

SIC

Insurance Agents, Brokers & Service (6411)

akta.pro industry

PRIMARYFSAGAGAG

IoT/Connected Risk Prevention & Parametric Triggers Platforms

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

SECONDARYFSAGAGAC

Claims Management & Digital FNOL Platforms

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

SECONDARYFSAGAGAB

Policy Administration, Underwriting & Rating Platforms (Core Insurance SaaS)

Financial & Insurance/Financial Technology (Fintech)/Insurtech Platforms (Digital Insurance Enablement)

Keywords

• Parametric insurance
• Cloud outage insurance
• Cyber insurance
• Managing general agent
• Insurtech

Headquarters

HQ city

Dubai

HQ country

United Arab Emirates

HQ region

Middle East

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Insurance premiums (as MGA): Operates as a regulated Managing General Agent (MGA) under DFSA Category 4 licence, earning commissions/premiums on parametric cloud outage and cyber insurance policies underwritten by A-rated global insurers. Revenue mix is recurring policy premium.
2. Parametric policy premiums (trigger-based cover): Premiums collected on parametric cloud outage cover with features like a 1-hour waiting period, no cash deductibles, and quick payouts; coverage priced against verified outage risk.
3. Incident response and risk advisory services: Includes predictive analytics, incident response planning, and access to cloud/DevOps experts bundled with policies, supporting value-added services revenue.

Pricing tiers

Go-to-market motion4 records

Distribution channels3 records

Marketing channels5 records

Core offering

Mantas operates as a technology-driven Managing General Agent (MGA) that underwrites and distributes parametric insurance policies for cloud downtime and cyber risk. Its core product, Cloud Outage Insurance, monitors hyperscaler availability (AWS, Azure, Google Cloud, Oracle Cloud) in real time and pays out a pre-agreed amount automatically when a verified outage trigger is met, bypassing traditional indemnity-based claims adjustment. The offering is extended by a modular Cyber Insurance add-on and supported by a free Cloud Outage Risk Calculator for sizing exposure.

Product overview

Mantas offers a single technology-driven parametric insurance platform anchored by one core product (Cloud Outage Insurance) and extended with add-on modules (Cyber Insurance) and a free risk-assessment tool (Risk Calculator). The core Cloud Outage Insurance product is the parametric policy that monitors hyperscaler availability and pays out on verified outage triggers, while the Cyber Insurance module layers on broader end-to-end cyber protection. The Risk Calculator is a standalone self-service tool that sizes and prices the core cover. Together they form an integrated offering: the Calculator feeds the core policy, and Cyber Insurance extends it.

Differentiator

Problem solved

Functional benefit

Products and services

• Cloud Outage Insurance Parametric insurance policy that pays out a pre-agreed amount when a cloud outage on a covered hyperscaler (AWS, Azure, Google Cloud, Oracle Cloud) is verified, bypassing traditional loss adjustment. Coverage is bound online in minutes and includes built-in detection and prevention tools, designed for businesses whose revenue depends on continuous cloud availability.
• Mantas Cyber Insurance Modular cyber insurance offering that complements the core cloud outage cover with broader end-to-end cyber protection, including cyber liability and breach response components, dark web scanning, ongoing employee education on phishing and password hygiene, and 24/7 incident response in English and Arabic, targeted at SMEs and cloud-dependent businesses.
• Cloud Outage Risk Calculator Free self-service calculator that estimates a business's exposure to cloud outages and recommends an appropriate parametric coverage limit, using inputs such as monthly cloud spend and workload profile.

Quantifiable outcome

• 1-hour waiting period, no cash deductibles, and automatic payout on trigger verification
• +2 more outcomes

Named customers1 record

Segments4 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability6 records

Feature5 records

Partnerships

Six partnerships are on record, tiered core commercial partner and ecosystem supporter.

• Lockton Recore commercial partnerChannel Partner/ Reseller/ DistributorLockton Re serves as broker and reinsurance partner for Mantas' parametric cloud outage cover in the UK. Policies are backed by A-rated global insurers.
• AWSecosystem supporterTechnology or IntegrationAWS logo appears in the 'We're backed by incredible leaders' section of the About Us page, indicating a relationship with the AWS ecosystem (e.g., Activate or similar startup program).
• MBR Innovation Fund (MBRIF)ecosystem supporterStrategic or Co-development PartnerLogo displayed alongside AWS, NVIDIA, MISK Foundation and Insurtech NY in the 'backed by' section. Mantas is also recognised as Best UAE Homegrown Business (MBRIF).
• NVIDIAecosystem supporterTechnology or IntegrationLogo displayed in the 'We're backed by incredible leaders' section, indicating inclusion in an NVIDIA startup or Inception-style program.
• MISK Foundationecosystem supporterStrategic or Co-development PartnerLogo displayed in the 'backed by' section of the About Us page, suggesting support from MISK Foundation's entrepreneurship programs.
• Insurtech NYecosystem supporterStrategic or Co-development PartnerLogo displayed in the 'backed by' section, indicating participation in or support from the Insurtech NY ecosystem/program.

Scale indicators8 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Parametrix Insurance: Parametrix Insurance is the closest direct peer: it sells parametric insurance that pays out when hyperscaler cloud outages (AWS, Azure, Google Cloud) are verified, targeting the same digital-first enterprise customer base as Mantas. Both companies apply the same trigger-based payout model to cloud downtime risk.
• At-Bay: At-Bay is a technology-driven cyber insurance MGA combining active monitoring with insurance coverage for SMEs and mid-market enterprises. It is a direct comparable for Mantas's cyber insurance module and its MGA-plus-monitoring business model.
• Coalition: Coalition is a leading cyber insurance and risk-monitoring provider that underwrites through carrier partners, very similar in structure to Mantas's MGA model. Its continuous attack-surface monitoring paired with cyber cover is a close analogue to Mantas's detection-plus-parametric approach.
• Cowbell Cyber: Cowbell is an AI-driven cyber insurance MGA for SMEs that uses continuous risk monitoring and adaptive cover, mirroring Mantas's MGA-plus-tech positioning. Both target cloud-dependent digital businesses with modular, quote-based cyber products.
• Resilience: Resilience is a cyber risk solutions provider combining insurance underwriting (via its carrier) with cybersecurity services — directly comparable to Mantas's bundled detection/IR + insurance approach. It targets mid-to-large enterprises similar to Mantas's regulated-enterprise segment.

Broad incumbents

• Munich Re: Munich Re is a global reinsurer and a leading provider of parametric insurance solutions across multiple perils. It is both a potential capital provider/competitor to Mantas and a useful benchmark for parametric underwriting discipline and pricing.
• Swiss Re: Swiss Re is a global reinsurer with an established parametric and digital-risk practice, comparable in offering to Munich Re. As a potential reinsurance capacity provider or competitor, it is highly relevant to how Mantas structures and prices its parametric book.
• Beazley: Beazley is a specialist insurer with a market-leading cyber and specialty insurance franchise. It competes in the same digital-risk and cyber insurance category as Mantas, but as a large, established carrier rather than a niche MGA.

Regional players

• Bayzat: Bayzat is a UAE-based insurance and employee-benefits platform serving SMEs across the MENA region. It is a regional comparable in business model (digital insurance distribution) and geography, although it focuses on health and general insurance rather than cloud/cyber parametric cover.

Emerging players

• Zego: Zego is a UK-headquartered insurtech combining telematics/data with on-demand commercial insurance. It is comparable as a data-led, digital-native MGA building novel risk products — a structural analogue to Mantas's parametric, data-driven approach to a previously under-served risk.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/mantasinsurance
• LinkedInlinkedin.com/company/mantasins

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles2 records

Funding overview

Funding rounds3 records

Investors7 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Mantas