Mantas, a company focused on insuring modern digital risks, has emerged from stealth alongside a seed funding round to introduce parametric insurance designed to cover cloud service downtime.
The seed round totals $1.77m and includes participation from Nuwa Capital, Suhail Ventures, Plus VC, OQAL Angel Syndicate, as well as strategic angel investors.
The capital will be used to support product development, enhance risk modelling capabilities, and fund early customer deployments across the MENA region and North America.
The launch reflects growing dependence on hyperscale cloud infrastructure, particularly in regions undergoing rapid digital transformation. As businesses increasingly operate on always-on platforms, even short periods of downtime can disrupt transactions, halt operations, and damage customer trust.
Existing risk management tools such as SLAs, legal contracts, and resilience engineering often provide limited financial certainty when outages occur. Mantas addresses this gap by using parametric insurance to deliver automatic payouts once predefined outage conditions are met.
Mantas provides tailored cloud outage insurance combined with real-time cloud risk monitoring. Its coverage is aimed at digital-first organisations whose revenues and operations rely on continuous cloud availability, including FinTechs, airlines, e-commerce platforms, SaaS providers, and regulated enterprises.
In addition to fast and transparent payouts, the platform delivers risk intelligence to help companies assess exposure and strengthen infrastructure decisions ahead of potential failures.
Mantas CEO Basil Mimi said, “Cloud downtime is now one of the largest unpriced liabilities in the digital economy, as outages at AWS and Azure in late 2025 demonstrated.
“Businesses have engineered their systems for scale and speed, but the financial layer has not kept up. Parametric insurance allows us to turn cloud outages into a measurable and insurable risk, giving companies certainty at the exact moment they need it most.”
Arnav Danthi, principal at Nuwa Capital said, “Downtime is often treated as a technical issue, but for digital businesses it’s increasingly a financial one. Mantas’ approach stood out to us because it ties insurance coverage directly to how infrastructure behaves in the real world, rather than how it’s described on paper. That’s an important step forward for this type of risk.”
Looking ahead, Mantas plans to expand its platform in line with the growing complexity of cloud and AI infrastructure, extending coverage across emerging digital risks while strengthening real-time monitoring and risk intelligence.
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