InsurTech Startups in Africa
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InsurTech in West Africa is gaining traction, but penetration remains low. Hollard, Alexander Forbes, and RelianceHMO are leading the way with digital platforms and innovative products. However, infrastructure challenges and low insurance awareness hinder widespread adoption. Local business leaders see potential but emphasize the need for education and regulatory support to unlock the full potential of InsurTech.
Cummulative Funding
$32.4M+
Total # of Companies
9
Total Deal Count
24
Total M&A Count
2
Total # of Investors
51
List of InsurTech startups in Africa
Add Startup| Startuparrow_upward | Overviewarrow_upward | Last roundarrow_upward | Total raisedarrow_upward | Founded |
|---|---|---|---|---|
Turaco provides Insurance for tomorrow's emerging markets. | Series A | $ 13,300,000 | 2008 | |
Pula uses insurance and digital products to help smallholder farmers endure climate risks, and improve their farming practices. | Grant | $ 8,200,000 | 2014 | |
Lami is a Kenyan InsurTech platform that enables companies across sectors to offer insurance products. | Seed | $ 5,610,000 | 2018 | |
mTek is an InsurTech platform that provides paperless ecosystem for the insurance industry. | Seed | $ 4,500,000 | 2019 | |
Pesabazaar is Kenya’s prominent online general insurance aggregator. | Seed | $ 421,000 | 2014 | |
Incourage enables agents to earn passive income by selling insurance via a digital platform. | Seed | $ 350,000 | 2022 | |
Eleka is a digital customer data collection platform, enhancing information-gathering process. | Seed | $ 100,000 | 2020 | |
Bluewave Insurance Agency is a Kenyan insurtech startup that eases the reach of the underserved market to insurance products and services. | Undisclosed | Undisclosed | 2016 | |
Oye Kenya rewards boda riders with insurance, loans, and e-mobility through fuel purchases. | Seed | Undisclosed | 2021 |
Founded
2008
Overview
Turaco provides Insurance for tomorrow's emerging markets.
Last round
Series A
Total raised
$ 13,300,000
Employee
11-50
Founded
2014
Overview
Pula uses insurance and digital products to help smallholder farmers endure climate risks, and improve their farming practices.
Last round
Grant
Total raised
$ 8,200,000
Employee
11-50
Founded
2018
Overview
Lami is a Kenyan InsurTech platform that enables companies across sectors to offer insurance products.
Last round
Seed
Total raised
$ 5,610,000
Employee
11-50
Founded
2019
Overview
mTek is an InsurTech platform that provides paperless ecosystem for the insurance industry.
Last round
Seed
Total raised
$ 4,500,000
Employee
2-10
Founded
2014
Overview
Pesabazaar is Kenya’s prominent online general insurance aggregator.
Last round
Seed
Total raised
$ 421,000
Employee
1-10
Founded
2022
Overview
Incourage enables agents to earn passive income by selling insurance via a digital platform.
Last round
Seed
Total raised
$ 350,000
Employee
51-200
Founded
2020
Overview
Eleka is a digital customer data collection platform, enhancing information-gathering process.
Last round
Seed
Total raised
$ 100,000
Employee
2-10
Founded
2016
Overview
Bluewave Insurance Agency is a Kenyan insurtech startup that eases the reach of the underserved market to insurance products and services.
Last round
Undisclosed
Total raised
$ 0
Employee
2-10
Founded
2021
Overview
Oye Kenya rewards boda riders with insurance, loans, and e-mobility through fuel purchases.
Last round
Seed
Total raised
$ 0
Employee
11-50