Digital insurance startup Zensurance raises $1 mln in seed round

Toronto-based digital insurance company Zensurance has secured $1 million in a seed-stage financing. The round was led by Canadian venture capital firm Ferst Capital Partners with participation from Portag3 Ventures and other investors. Founded this year by CEO Danish Yusuf and CTO Sultan Mehrabi, Zensurance provides curated commercial insurance packages to small enterprises. It plans to use the funds raised to hire new talent and build its business. Zensurance was this month named one of 2016's 20 most innovative companies by the Canadian Innovation Exchange.

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