Top 50 InsurTech Startup Investors in Africa (October 2023)

Portfolio highlights

• Balad — Balad is Egyptian Cross Border Payout Network primarily serving Money Transfer Operators (MTOs), fintechs and mobile wallets. Targeting sending markets including GCC, EU, US, Canada, and UK
• Anchor — Anchor is a Lagos-based banking-as-a-service platform for African businesses. Anchor provides APIs and infrastructure to build, embed and launch powerful financial products in a secure and scalable way.
• Itana — Talent City’s mission is to build a network of charter cities that focuses on creating technology-enabled jobs within a free trade zone with its own regulation and bylaws.

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

• Releaf — We are industrializing food processing in Africa. We've led 1000+ smallholder farmers to provide food factories with >7.5 million kilograms of quality crops.
• Tripesa — Tripesa offers payment solutions for Africa's travel and tourism industry.
• Norebase — Norebase knows that there's an opportunity to grow successful businesses in Africa. It also understands the complexities of the market, and so is using technology to make doing business in Africa worthwhile. With Norebase get to operate in Africa with no hassle and with minimum risk.

Portfolio highlights

• CMR Surgical — Welcome to CMR Surgical. Transforming surgery. For good. Our aim is to make the benefits of minimal access surgery available to everyone who needs it.
• Enflame — Suiyuan Technology is a provider of neural network solutions for artificial intelligence. Its products are deep learning high-end chips developed for cloud data centers, and are positioned on artificial intelligence training platforms. The chip will adopt a unique and innovative architecture independently developed, featuring high computing power,high energy efficiency ratio, programmable, low cost, and support for mainstream machine learning frameworks. It is designed and optimized for cloud AI training.
• Broken String Biosciences — Our platform accelerates the characterisation of novel gene editing technologies to unlock the next wave of cell & gene therapies.

Portfolio highlights

• Chari — Chari is an e-commerce and fintech app for traditional retailers in French-Speaking Africa allowing them to order any consumer goods they sell and get delivered for free in less than 24 hours. Chari is also a financial services provider for these retailers, offering them microloans
• Carry1st — Carry1st develops and publishes enriching mobile games and content apps for African consumers.
• Beacon Power Services — Beacon Power Services is a utility company that provides energy management software and analytics for utilities.

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

• 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

• 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

• Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
• Zanifu — The zanifu platform, allows small retailers in Sub Saharan Africa, to procure inventory from their suppliers & pay later.
• Fixit45 — Your best ever automobile service experience awaits you.

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

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

Portfolio highlights

• Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
• Traction Apps — Traction apps provide businesses end to end tools they need to run and grow their businesses.
• 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

• 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

• MFS Africa — MFS Africa is the largest mobile money inter-operability hub in Africa, which connects mobile network operators across the continent through a single API. In addition to mobile remittance services, the MFS Africa API enables merchant payment, bulk payment, bank-to-wallet transfers, and an array of other cross border digital payments services.
• SOUK Farms — SOUK Farms is a fresh horticulture supply grower and exporter that pioneers innovation to improve agricultural sustainability and stimulate economic and social development.
• Complete Farmer — We are providing cutting-edge technological farming protocols and innovations with a unique business model and logistics that are revolutionizing...

Portfolio highlights

• OnePipe — OnePipe aggregates APIs from banks and fintechs into a standardized gateway that is easy to integrate and makes partnerships seamless.
• Sendmarc — Stop cyber criminals from sending emails using your domain and protect your customers, suppliers and employees from cyber attacks with DMARC Security.
• 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

• 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

• AiSDR — Create and send email campaigns on auto-pilot. Move prospects down the funnel faster with the help of AI. Build-up your pipeline in days with AiSDR. Reduce costs by 90%.
• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• Leadsales — Leadsales es el primer CRM para Redes Sociales para integrar tus mensajes de WhatsApp Facebook e Instagram en una plataforma multiagente

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

• Stuf — Stuf is a next-generation self-storage startup that provides easy-to-access and "right next door" storage in a warm and inviting environment for tech-enabled users. At the same time, it partners with real estate owners to monetize underutilized spaces in commercial buildings, creating new cash flow opportunities while providingneighborhoods with new amenities.
• Trustible — Document, manage, and report on your AI Governance strategy to build trust and reduce risk. https://www.trustible.ai/
• MoviePass (NEW) — MoviePass is a subscription service that allows customers to see movies in theatres for a set monthly fee. The user will be able to check into their preferred movie theatre using location-based mobile technologies and share their movie-going experiences with their peers via their preferred social networks. After the film, the user will be able torate each movie and theatre experience.

Portfolio highlights

• Talk360 — Talk360 is an easy-to-use calling app that helps people make affordable international calls to any mobile and landline number. They believe that reliable communication and digital services must be affordable and accessible to everyone, regardless of someone's background. Especially people in emerging countries in Africa, who often need theseservices the most, do not always have the necessary banking possibilities. To bridge this distance, Talk360 will launch the world's first single checkout platform for Africa. This platform will combine all locally available payment methods and currencies across Africa, together with over 1.25 million cash points of sales, and will eventually be available to other companies as well. This means that 500 million Africans will be able to purchase digital services they never had access to before.
• SweepSouth — Book a home cleaning online from your mobile, tablet or computer. SweepSouth connects you with a cleaner in minutes. Cleaners are experienced, reliable, efficient and insured.
• Yebo Fresh — Powering South Africa's Township Economy.

Portfolio highlights

• bit.bio — Bit.bio specializes in the fields of coding and biology that determine the identity of every human cell. Their mission is coding cells for health. To do so, we apply the principles of computation to biology. Bit.bio's current focus is to develop a scalable technology platform capable of producing consistent batches of every human cell. Thishas the potential to unlock a new generation of medicine: it will enable research and drug discovery to move on from inappropriate models and work with the cells that actually are affected by the human disease. A scalable platform of consistent cells will also be the basis for a new generation of cell and tissue therapies. To achieve our goals, we have assembled a team of pioneers in stem cells, cellular reprogramming, mathematical modeling, and cell therapy. Collaboration is at the heart of bit.bio. We are empirical, highly ambitious, and driven by a common purpose.
• Cellevolve Bio — Cellevolve Bio is a development and commercialization company focused on cell therapies.
• Garuda Therapeutics — Garuda Therapeutics is developing off-the-shelf hematopoietic stem cell (HSC) therapies to treat a broad range of severe and life-threatening diseases.

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

• Sendmarc — Stop cyber criminals from sending emails using your domain and protect your customers, suppliers and employees from cyber attacks with DMARC Security.
• Leta — Leta Technology is a software development company that creates supply chain and logistics software to enable the efficient and automated movement of goods.
• Numida — Growing African small businesses with affordable, convenient, and fair credit.

Portfolio highlights

• CO2 AI — Empowering decision-makers to sustain our world via advanced software that shifts carbon emissions reduction from the theoretical to the impactful.
• UpSlide — Produce high-quality reports and presentations faster in PowerPoint, Excel and Word. Save up to 8h each month in just a few clicks!
• Commsignia — Commsignia specializes in the research and development, manufacturing and distribution of cooperative intelligent transportation systems. Its product line includes a V2X Communication Software Stack and Commsignia’s own security stack implementation, Hybrid V2X/ADAS Safety Applications, a V2X Simulator, On-Board Units (OBU) and Roadside Units(RSU).The company was founded in 2012 and is headquartered in Santa Clara, California.

Portfolio highlights

• Licify — Licify, a procurement cloud-based platform specialized in the construction industry, has redefined interactions between developers, contractors, sub-contractors and suppliers. It creates a community developing transparent and efficient realtionships allthrough the value chain. This improves the procurement and supply processes, generating savingsand increasing profitability.
• Bababos — Bababos is a platform that allows SME manufacturers to quickly access a variety of high-quality raw materials, from polymers and chemicals to steel and other metal products. This eliminates the need to handle numerous suppliers. The company's platform streamlines the buying process by digitizing administrative duties. Additionally, Bababosprovides manufacturers with flexible payment options that lessen their financial burden and enable them to concentrate on what they do best—producing high-quality products. Bababos enhances the SME producers' supply chains.
• Channel19 — Channel19 is building a platform for small truckers to aggregate freight from all of their digital broker and load board relationships in one place and find the best freight to move for their business. Truckers using Channel19 earn up to 20% more revenue and can save over $3,000 per truck per year in dispatch.

Portfolio highlights

• CoverGo — CoverGo is the ultimate no-code insurance platform helping insurance companies build and launch products at record speed and configured for every product line.
• Gala Macs — Gala Macs is an agricultural company engaged in the production of macadamia nuts.
• Pineapple — In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest andcover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to manyPineapple launched in South Africa in 2018 with their "My Stuff" per-item insurance and have since launched their auto offering "My Ride". They have also partnered with Travelers in the US and have white-labeled their platform in the US.

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

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

Portfolio highlights

• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• AOA — AOA based in Boston, New York, and London developing cancer diagnostics in the field of women’s health.AOA is a female-led company, is committed to bringing the first accurate early-stage liquid biopsy ovarian cancer diagnostic test to market that will improve clinical practice, help reduce patient mortality and deliver cost savings to payers.
• Craniometrix — Catch Alzheimer's 3x as accurately as a doctor & 10 years before symptoms. All in 5 minutes on your computer!

Portfolio highlights

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

Portfolio highlights

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

Portfolio highlights

• Bizao — Bizao vous permet d'accepter les moyens de paiement en ligne en Afrique pour la commercialisation de vos services et/ou produits.
• Turaco — Turaco develops simplified insurance and credit solutions through mobile technology to solve the healthcare financing needs. Turaco has simplified insurance products and also provides on-demand health loans, allowing customers to get healthcare at affordable monthly premiums.
• MFS Africa — MFS Africa is the largest mobile money inter-operability hub in Africa, which connects mobile network operators across the continent through a single API. In addition to mobile remittance services, the MFS Africa API enables merchant payment, bulk payment, bank-to-wallet transfers, and an array of other cross border digital payments services.

Portfolio highlights

• Lengo — Lengo is an AI based intelligence platform that offers a large database on consumer goods for companies in the FMCG sector.
• Menthum — Saving Made Simple
• Precision Cardiovascular — Precision Cardiovascular is a unique sensor system for remote monitoring of patients with acute heart failure that provides unbiased data to improve long-term health outcomes and reduce the expenses of emergency situations.

Portfolio highlights

• LifeQ — We empower everyone to delay aging, optimize your health, harness more energy, reduce the probability of disease, and understand why and how your body is changing, right now! It is in your power to be your biologically younger self.
• Pineapple — In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest andcover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to manyPineapple launched in South Africa in 2018 with their "My Stuff" per-item insurance and have since launched their auto offering "My Ride". They have also partnered with Travelers in the US and have white-labeled their platform in the US.

Portfolio highlights

• ETAP — ETAP is a digital insurance application that allows you to set up your car insurance in just 90 seconds.

Portfolio highlights

• I-G3N — I-G3N is a South African developer of lithium-ion batteries. The company’s core market is on stationary storage in conjunction with Solar PV and focuses on superior products and on the incorporation of the latest technologies to battery functionality. One of the key focus areas is on exporting to the SADC region and the rest of Africa, asextraordinary opportunities exist on the rest of the continent, especially in the development of mini and micro-grids to impact development.
• Pineapple — In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest andcover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to manyPineapple launched in South Africa in 2018 with their "My Stuff" per-item insurance and have since launched their auto offering "My Ride". They have also partnered with Travelers in the US and have white-labeled their platform in the US.
• Aviro Health — We believe that empowering and supporting people to manage their own health benefits everybody.We built the Aviro Pocket Clinic to support self-care and provide access to services. We give people what they need to perform important health checks like regular HIV self-testing and connect them to experts and services who can offer hands-on and supported care when needed.

Portfolio highlights

• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• Siffron — siffron provides retail merchandising and custom display solutions.With more than 60 years of retail expertise, siffron has more than 6,000 retail fixtures, store shelving, shelf management systems, and stock displays.
• Europa Eyewear — Europa is an eyewear company which is proud to craft products and policies focused on supporting likeminded, independent eye care professionals

Portfolio highlights

• mTek — Manage your insurance digitally by purchasing affordable covers online, comparing quotes from your favorite insurers and settling claims through mTek

Portfolio highlights

• Pirros — Pirros is a first real Detail Management System for Architects and Engineers. Store all your details easily. Manage your team's library and continuously improve your details from project to project. Directly integrated with Autodesk Revit
• Persist AI — Persist AI develops PLGA microspheres for long-acting injectable formulations 50% faster using automation and AI.
• Anchor — Anchor is a Lagos-based banking-as-a-service platform for African businesses. Anchor provides APIs and infrastructure to build, embed and launch powerful financial products in a secure and scalable way.

Portfolio highlights

• Apata — Apata the go-to fraud prevention provider for fintech issuers.
• Dashy Dash — Dashy Dash is a free community powered tool that makes it easy to manage invoices, discover new products & compare prices to help you save money.
• Vero Technologies — Powering Wholesale Financing

Portfolio highlights

• PawaPay — pawaPay helps global companies accept payments from and terminate transactions to African consumers via mobile money.
• Pineapple — In short, Pineapple see the traditional insurance model, user journey and products as lacking and set out to remedy these by doing the following: 1) Changing the business model to align incentives, show people how premiums are used and award members leftover premium back 2) Making insuring as easy as snapping a picture where AI does the rest andcover is issued in under 60 seconds 3) Allowing per-item insurance and new product innovation to address cover not currently offered or accessible to manyPineapple launched in South Africa in 2018 with their "My Stuff" per-item insurance and have since launched their auto offering "My Ride". They have also partnered with Travelers in the US and have white-labeled their platform in the US.

Portfolio highlights

• BasiGo — BasiGo is an early-stage e-mobility start-up looking to revolutionize the public transportation sector by providing matatu owners with a cost-effective electric alternative to diesel buses.
• Tugende — Tugende helps motorcycle taxi drivers own their own motorcycles in eighteen months or less instead of renting indefinitely. Ownership significantly increases income, job security and road safety.
• ETAP — ETAP is a digital insurance application that allows you to set up your car insurance in just 90 seconds.

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

• Curacel — Curacel creates APIs & tools that enable businesses to embed insurance in digital channels and to administer claims cost-effectively.
• StretchDollar — The simplest, most affordable health benefit option for small businesses. More control over your budget and more choice for your people. Get started today!
• Stakeholder Labs — Stakeholder Labs builds enterprise software to help companies measure and increase retail investor engagement. Its flagship product, Roundtable, enables companies to verify shareholders, measure their customer loyalty and offer unique shareholder rewards. To learn more about Stakeholder Labs, please visit stakeholderlabs.com.

Portfolio highlights

• Koltin — Koltin offers preventive, accessible health plans focused on people.
• Birdstop — Fully automated aerial imaging on your field assets through AI powered drones.
• Lex — Lex is a lo-fi, text-based social app for womxn, trans, genderqueer, intersex, two spirit, and non-binary people for meeting lovers and friends. Lex—short for lexicon—is the only social app where the text comes first and the selfies, second.

Portfolio highlights

• Credpal — Buy now, pay later. Split in 6.
• OmniBiz — Omnibiz is a digital platform for small businesses willing to attract new customers.
• ETAP — ETAP is a digital insurance application that allows you to set up your car insurance in just 90 seconds.

Portfolio highlights

• Vega — The comprehensive wealth creation platform for high-net-worth individuals and their advisors. Vega bridges the gap between the institutional and private wealth management worlds.
• Komet Games — A casual gaming platform powered by intelligent AI agents. Explore puzzle, battle, and hyper casual games with friends, all under one roof.
• Spot My Energy — Spot My Energy increases the value of smart power by increasing transparency in energy flows and handling metering, asset optimization, and trading.

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

• 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.