Nigerian insurtech startup, Curacel, raises $3 million in seed funding
-
Loading... - Nkiru Udoh
- 16 Feb 2023
- 71 Views
- 0 Like
- 0 Comment
Insurtech startup, Curacel, has raised $3 million in seed funding to roll out new technology solutions designed to power the next generation of insurance experiences in Africa.
The company said the new funding will also support its expansion into North Africa.
The seed funding round had participation from Tencent, AAF Management (invested in Sure, and Flutterwave), Elefund (invested in Robinhood, Pie Insurance, and Sure), Blue Point Capital Partners, Pioneer Fund, Olive Tree Capital, and Y Combinator, as well as James Park (CEO of Fitbit), Olugbenga ‘GB’ Agboola (CEO of Flutterwave), Babs Ogundeyi (CEO of Kuda) and other strategic investors.
Top executives from Covergenius, Zopper, and Pie Insurance will also join Curacel’s advisory board as part of the round.
How Curacel operates: The insurtech startup makes it easier for insurers to distribute their products, automate their claims processes, and drive revenue growth by giving them easy-to-use technology solutions that have been specifically designed to drive up insurance inclusion on the continent.
The company said it has processed more than $100 million worth of claims, working with more than 20 insurers and more than 5,000 service providers in 8 countries across the continent.
In 2022, Curacel grew its transaction volume by 600% and increased its revenue by 500%. Starting with Egypt and Morocco, the new funding will enable the company to roll out its services in North Africa and deepen its presence in other parts of the continent. Read More…
