Top 30 InsurTech Angel Investors in Africa in October 2023

Portfolio highlights

• Alpha Direct — Alpha Direct is a Botswana-HQ, Africa-focused risk carrying Insurtech that is focused on using cloud, big data and AI to deliver compelling insurance products for Africa’s growing consumer market.The insurance sector in Africa is underpenetrated vs most of the World. Given affordability, accessibility and inflexibility, insurance is seen asbeing a product “that is only available to the rich”.The company has become the fifth largest short-term insurance underwriter in their home market in under 5 years, and is now focused on regional and continental expansion across Africa as well as entering the long-term insurance market. The company has a strong stable of intellectual property including software, trademarks and patents. The company recently won The African Insurance Award for Innovation of the Year, for their insurance in a box product sold through retail outlets (with a cloud-based activation and policy management platform) where they have acquired thousands of customers and are scaling up rapidly. Over the next 5 years Alpha Direct plans to expand its product offering to include long-term insurance products as well to expand its footprint to include South Africa, Kenya, Egypt and Nigeria. Alpha Direct plans to license its products and technology in 10 African countries outside those where it has a physical presence.
• Magenta Mobility — Magenta is in business of 'Enabling electric mobility and Making electricity clean'. Magenta has four business divisions: 1. Magenta ChargeGrid - EV Charging Solutions 1. Magenta Power - Clean Energy Systems 3. Magenta Infomatics - Information Technology for clean energy 4. Magenta EVET - Electric Vehicle based transport solutions
• Concept Medical — Concept Medical is driving innovation in medical devices, with a focus on developing technologies for drug delivery with a strong emphasis on intellectual property. Based in Tampa, Florida; Concept Medical has always striven to find solutions to improve and elevate health. With the attribute of being the first in class to take care of well-being ina natural way, it has committed itself to the fields of coronary artery disease and peripheral artery disease.

Portfolio highlights

• Upmin — Upmin is an online platform for Real estate management and works as a Digital property manager
• TRIP — TRIP is the UK's most trusted CBD Oils and CBD Drinks Supplier. Shop the UK's best CBD oils available online with FREE UK Shipping.
• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• tushop — Enabling communities to reduce the cost of living together
• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• Afropolitan — Afropolitan is building a Network State to unleash the maximum potential of Africans around the world. Are you interested? Join us with your email.

Portfolio highlights

• Axis — axis for Business enables small businesses to seamlessly manage employee payroll, salary advances, and expenses - all from one place.
• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Knoma — Search hundreds of courses from leading schools and bootcamps. Learn now and pay later with Knoma and spread the cost with ethical finance
• Volume — Payment Infrastructure for the Internet
• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Sync Savings — Rebuilding the infrastructure of cash savings
• Superlayer — Superlayer drives better performance for sales teams, leveraging and automating best practices to close more deals in less time.
• Morphoses — Unlocking Potential: Empowering 6-17 Year-Old Learners with Future-Focused Soft Skills for Education and Employability

Portfolio highlights

• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Zazuu — Zazuu is a platform for sending money across the border.
• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• 24seven.pk — 24seven.pk is using tech and data to digitize and disrupt the fresh food and FMCG verticals in one of the fastest-growing and rapidly evolving consumer markets in the world.

Portfolio highlights

• tushop — Enabling communities to reduce the cost of living together
• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• Afropolitan — Afropolitan is building a Network State to unleash the maximum potential of Africans around the world. Are you interested? Join us with your email.

Portfolio highlights

• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Fertifa — Fertifa is an innovative employer benefit solution making fertility care more accessible and affordable.The company works with employers to offer a valuable employee benefit which bridges the gap between an employer and their employees when dealing with the sensitivity and privacy of employees’ reproductive issues. It also offers guidance andadvice, next-generation fertility treatment, and access to a range of holistic services for the best chance of success. The company was founded in 2019 and based in London, United Kingdom.
• 1Bstories — Helping publishers and brands increase engagement and conversions using AI. Mobile, vertical, 60 second video formats made in an instant. Tell your story today!
• StudentFinance — Catapult your career with leading re-skilling and up-skilling bootcamps. Study now and pay us back once you land a job & start earning!

Portfolio highlights

• Repool — Repool makes it easy to create and manage hedge funds. Save time, delight investors, and focus on what matters.
• Peakflo — Peakflo offers efficient account payable software, account receivable software, and cashflow management software to streamline your accounting automation. Get Free Trial Now!
• Pillar Financial Technologies — All-in-one Financial Platform for Small Businesses

Portfolio highlights

• OKO — New generation crop insurance designed for emerging markets Droughts and flood insurance available from any mobile phone in Mali

Portfolio highlights

• Casava — Casava is a financial services company that offers insurance and life microinsurance. Casava uses technology to provide world-class, trusted, and affordable insurance to everyone.
• Edukoya — Edukoya builds online education content and offers online tutoring for students and their parents.
• Jerry — Jerry is an AI, ML, and bot-powered car ownership app that saves customers time and money on car expenses. With its first product, Jerry redesigned and disrupted the century-old car insurance process, turning stacks of pages and hours of calls into a handful of clicks. The company was founded in 2017 and is based in Palo Alto, California.

Portfolio highlights

• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Lami — Lami is an end-to-end digital insurance platform and API that enables companies across sectors to offer insurance products. Its API allows underwriters to connect with consumer-facing companies that can provide embedded insurance as a value add for existing customers, many of whom are uninsured.

Portfolio highlights

• OKO — New generation crop insurance designed for emerging markets Droughts and flood insurance available from any mobile phone in Mali

Portfolio highlights

• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Opontia — Opontia provides a fast and fair way for small e-commerce business owners to sell their companies. They buy businesses with a long-term competitive advantage and strong home-grown brands. They know that selling a business can be stressful and difficult, which is why they have streamlined the process so that you can receive money in your accountwithin just 6 weeks of starting the process.
• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Klump — Use Klump to buy today, and pay in 4 equal instalments over 3 months! Businesses accept payments and increase conversion rate and revenue. The Easy Life! Try it now.
• Casava — Casava is a financial services company that offers insurance and life microinsurance. Casava uses technology to provide world-class, trusted, and affordable insurance to everyone.
• Remedial Health — We improve business to business access to medicines by providing such medicines from manufactures/registered distributors direct to large and small healthcare retail businesses (large pharmacies and remote chemist/PPMVs (Patent and Proprietary Medicine Vendors)) using technology to deliver just-in-time stock and provide financing and awide selection of inventory to such retail business.

Portfolio highlights

• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.

Portfolio highlights

• Casava — Casava is a financial services company that offers insurance and life microinsurance. Casava uses technology to provide world-class, trusted, and affordable insurance to everyone.
• Earnipay — Earnipay empowers businesses to overcome their finance and people operations challenges and improve their employees' financial wellness
• Afropolitan — Afropolitan is building a Network State to unleash the maximum potential of Africans around the world. Are you interested? Join us with your email.

Portfolio highlights

• Casava — Casava is a financial services company that offers insurance and life microinsurance. Casava uses technology to provide world-class, trusted, and affordable insurance to everyone.
• Bitmama — Bitmama is the best cryptocurrency trading platform that lets you buy, sell Bitcoin, ETH, Celo, USDT, XRP, and more. Available in Nigeria & over 100 countries.

Portfolio highlights

• HUNTY — HUNTY is a platform that help people find jobs by connecting them with world class mentors who prepare them for the job search process. And people only pay when they get hired.
• BriteCo — Their cloud-based BriteCo Appraisal Management System is the gateway to making the jeweler’s life easier and more productive—-and customers happier and more secure with immediate insurance coverage of their fine jewelry and watches.
• Lami — Lami is an end-to-end digital insurance platform and API that enables companies across sectors to offer insurance products. Its API allows underwriters to connect with consumer-facing companies that can provide embedded insurance as a value add for existing customers, many of whom are uninsured.

Portfolio highlights

• Bamba — Smart, simple, digital
• Finclusion Group — Enhancing financial inclusion in Sub-Saharan Africa through data driven lending.
• Kwik — Kwik Delivery is the fastest and most affordable delivery service for your businesses in Lagos, Abuja, and Ibadan. We deliver under 2 hours.

Portfolio highlights

• OKO — New generation crop insurance designed for emerging markets Droughts and flood insurance available from any mobile phone in Mali

Portfolio highlights

• Casava — Casava is a financial services company that offers insurance and life microinsurance. Casava uses technology to provide world-class, trusted, and affordable insurance to everyone.
• Edukoya — Edukoya builds online education content and offers online tutoring for students and their parents.

Portfolio highlights

• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• HoyTrabajas — We are a C.Vs information exchange platform for candidates, employers, and recruiters, that get people access to low-skilled jobs in the Latin-American markets, enables recruiters to share job-seekers and job openings in real-time, and supports SMEs in the recruiting of their low-skilled jobs.
• Positive Food Co. — Delicious, fresh food

Portfolio highlights

• Casava — Casava is a financial services company that offers insurance and life microinsurance. Casava uses technology to provide world-class, trusted, and affordable insurance to everyone.
• Edukoya — Edukoya builds online education content and offers online tutoring for students and their parents.
• Jerry — Jerry is an AI, ML, and bot-powered car ownership app that saves customers time and money on car expenses. With its first product, Jerry redesigned and disrupted the century-old car insurance process, turning stacks of pages and hours of calls into a handful of clicks. The company was founded in 2017 and is based in Palo Alto, California.

Portfolio highlights

• Swvl — Swvl | Book Your Daily Ride or Make Money Driving Now
• Curve — Curve is a banking platform that consolidates cards and accounts into one smart card and app.It allows customers to supercharge their legacy banks to the 21st century without leaving their bank or topping-up. Curve offers a host of benefits to its customers; it makes cards fee-free when spending abroad, get instant notifications andcategorization of spend, earn an instant 1% cashback at the likes of Amazon, Uber, Netflix and Sainsbury’s and Time Travel enables customers to swap spend to a different card in the app for up to two weeks after the purchase was made. Curve also offers Curve Customer Protection, a policy that covers all credit and debit card payments made via the Curve card up to £100,000, giving cardholders an extra layer of protection for disputes with merchants and any unauthorised use of their Curve card. IDC Ventures backs Curve with Fuel Venture Capital, Vulcan Capital, OneMain Financial, and Novum Capital backs Curve.Shachar Bialick, Anna Mostyn Williams, and Tom Foster-Carter established the company in London, England in 2015.
• Click2Sure — We provide cloud-based Insurance SaaS solutions for omnichannel distribution, which can save costs & support data-driven decision making. Contact us today.