Soor, a Bahrain-based insurtech platform transforming how users access and purchase insurance, has secured a new investment from Spring - a venture studio and ecosystem builder backed by London-based global investment firm Salica and Bahrain’s Al Waha Fund of Funds - to accelerate its growth and product development.
Licensed by the Central Bank of Bahrain (CBB), Soor is part of Bahrain’s growing fintech and insurtech ecosystem. The platform simplifies the insurance journey by helping customers find, compare, and purchase policies from leading insurers in Bahrain in a faster and more transparent way.
Soor is building a digital solution that allows users to compare insurance policies from top providers and purchase the option that best fits their needs, all within a single app.
The platform simplifies what has traditionally been a complex and time-consuming process, offering users greater transparency, competitive pricing, and convenience in one place.
It was founded by Mahmood Dhaif, who brings over 10 years of experience across corporate and startup environments, with a strong track record in driving business growth and innovation, and co-founded by Qasim Albaqali, a seasoned software engineering leader with extensive expertise in software architecture, engineering management, and building scalable technology solutions.
On the new investment, Dhaif said: "We built Soor to simplify insurance for customers by helping them find policies that match their needs in less than a minute, from leading insurance companies in Bahrain. For insurers, Soor creates a stronger digital channel to reach, serve, and understand customers better."
"With Spring’s investment, we can accelerate our mission to support the digital transformation of insurance and deliver greater value to the market," he stated.
Beyond comparison, Soor creates a digital bridge between customers and insurers, making insurance more accessible, efficient, and customer-focused across the market, he added.
Spring’s investment reflects its focus on backing founders addressing real market inefficiencies through technology. The firm sees strong potential in Soor’s ability to reshape how consumers interact with insurance in Bahrain and the wider region.
Zainab Khamis, Managing Director of Spring, said: "Insurance is an essential service, yet the experience has long been fragmented and difficult to navigate. Soor addresses this challenge with a clear and scalable solution, and we believe Mahmood and his team are well-positioned to drive meaningful change in Bahrain and beyond."
With this investment, Soor plans to enhance its platform capabilities, expand partnerships with insurance providers, and continue improving the overall user experience.
The company will also focus on strengthening its presence in Bahrain while exploring opportunities for regional expansion, as digital adoption across financial services continues to grow, it added.-TradeArabia News Service
