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TMCNet:  Digital Insurance Startup, Zensurance, Pledges Company Equity to Canadian Charities

[November 14, 2017]

Digital Insurance Startup, Zensurance, Pledges Company Equity to Canadian Charities

TORONTO, Nov. 14, 2017 /PRNewswire/ -- Zensurance, an award-winning digital insurance startup, announced its partnership with The Upside Foundation, an organization that encourages startups and high growth companies to pledge equity instead of cash as a way of giving back to Canadian charities.

The Upside Foundation of Canada is a partner of the larger Pledge 1% global movement founded by Salesforce Foundation and others.  

"The Upside Foundation embodies the innovative spirit of the companies it works with while enabling them to meet their corporate social responsibility goals," said Danish Yusuf, co-founder and CEO of Zensurance. "The Canadian startup community has brilliant, energetic people, and The Upside Foundation has tapped into that by linking stewardship to startup success."

Zensurance will be directing their donation to the Tech4SickKids initiative.

"To be part of a thriving tech ecosystem, it's our duty to find ways to give back in any way we can," says Sultan Mehrabi, Zensurance's co-founder and CTO. "As we continue to grow, we're excited to reinvest some of our success into the community, and the Upside Foundation is the best partner to help us to do that."

The Tech4SickKids initiative challenges Canada's tech and innovation leaders to be as invested in SickKids as they are in their companies by helping to raise $25 million to support The Hospital for Sick Children (SicKids). SickKids leads the fight for children's health. From precision genetic medicine, to surgical robotics, to harnessing big data to save lives, the initiative works to redefine child health.

"We are thrilled and grateful that innovative companies, such as Zensurance, are committing a portion of their upside to SickKids and our Tech4SickKids initiative.  The success of this initiative truly rests on the whole tech and innovation community rallying together to share their expertise and to invest in state-of-the-art facilities, people, and programs for the benefit of child health across Toronto, Canada and the world." says Jodi Kovitz, SickKids Foundation Campaign Cabinet, Tech4SickKids Co-Chair, and Founder of #Movethedial.

About Zensurance

Zensurance is Canada's leading online commercial insurance broker. They offer a full range of liability insurance products to small businesses, with a particular focus on digitizing businesses and technology startups. With its eyes towards the future, Zensurance knows what it means to work with new technology and understands the common risks for business owners. Based on experience and strong analytics, they recommend the ideal insurance coverage for your business.

For more information, contact Sultan Mehrabi (sultan@zensurance.com)

About The Upside Foundation

The Upside Foundation of Canada is an organization that enables tech startups to donate equity instead of cash. Startups pledge stock options or warrants to the Upside Foundation. Once the company has a liquidity event, such as an acquisition or an IPO, the Upside Foundation donates the proceeds from those options or warrants to a charity of the startup's choice. Incorporated in 2013, the Upside Foundation provides startups with the opportunity to meet their corporate social responsibility goals while also accessing a large network of like-minded startups.

For more information, including members of the Tech and Innovation Advisory Council, please visit: tech4sickkids.com

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SOURCE Zensurance


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