Root, a South African insurtech startup, has raised $3 million in a seed spherical

Root, a South African insurtech startup, has acquired $3 million in a seed spherical to increase its low-code digital insurance coverage platform into new markets together with Europe.

Invenfin, Base Capital, Savannah Fund, P1 Ventures, Luno, and FireID have been among the many traders within the spherical.

“As Root continues to unlock innovation in insurance coverage, we’re making it simpler for entrepreneurs to place prospects first and usher the trade into the age of totally tailor-made and handy built-in options,” stated Louw Hopley, CEO, and co-founder of Root.

The insurtech is a cloud-native insurance coverage platform that claims to permit companies of any measurement to create, promote, and administer digital insurance coverage merchandise.

It’s aimed toward non-insurance corporations with a big consumer base, similar to retailers, banks, and telecommunications corporations that supply insurance coverage as a secondary product.

Root intends to make use of the brand new funds to develop its low-code digital insurance coverage platform in new nations, significantly in Europe.

 

Learn extra on Tech Gist Africa:

Sama, a Kenyan AI startup, has raised $70 million in a collection B funding spherical. 

Oja, a Nigerian-founded grocery supply service, has raised $3.4 million in funding

JUMO has raised USD$120 million in its most up-to-date funding spherical

Wicrypt, a Nigerian Wi-Fi sharing startup, has raised $1.5 million in funding

The publish Root, a South African insurtech startup, has raised $3 million in a seed spherical appeared first on Techgist Africa | Africa Main Tech Information, Evaluations and Ideas.

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