Posted on

South African Insurtech Startup Root Secures $1.5M for Europe Expansion

New Investments

South African Insurtech Startup Root Secures $1.5M for Europe Expansion

Root, a South African insurtech startup, has secured $1.5 million in funding to accelerate its expansion plans in the UK and Europe.
 

The funding round was led by Invenfin, the venture capital arm of Remgro Limited.

Root was founded in 2016 by Louw Hopley and provides an end-to-end insurance platform that enables companies to build, sell, and manage digital insurance products.

The company’s platform is low-code and API-first, making it easy for businesses to develop and deploy custom insurance solutions.

Root has already established a presence in the UK and Europe, and its platform is being used by a number of leading insurers and fintech companies.

The fresh funding will allow Root to expand its team and further develop its platform to meet the growing demand for embedded insurance.

Embedded insurance is a new way to distribute insurance products, in which insurance is embedded into other products and services.

For example, a car rental company might offer embedded insurance to its customers to protect them against accidental damage.

Embedded insurance is a rapidly growing market, and Root is well-positioned to capitalize on this growth.

The company’s platform makes it easy for businesses to offer embedded insurance products, and Root has a strong track record of working with leading insurers and fintech companies.

Root’s new funding round is a significant milestone for the company and for the African insurtech ecosystem.

It is a testament to the growing interest in investing in African startups and to the potential of Root to make a positive impact on the global insurance industry.

Related Articles

Register Now

Empower Africa Times Newsletter

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

Posted on

Delphine Traoré 

Delphine Traoré

Delphine is a prominent figure in the finance and insurance industry and has played a significant role in the African business landscape.

She is the CEO of SanlamAllianz, one of the largest insurance companies on the continent. Under Delphine’s visionary leadership, Allianz Africa has achieved unprecedented milestones. She has been at the forefront of steering the company’s expansion across the continent. Her dedication to innovation has resulted in the development of innovative solutions that address the diverse needs of Allianz Africa’s clients.

Delphine, who is a passionate advocate for women’s empowerment and financial inclusion, serves as an inspiration to countless individuals, especially women, who aspire to reach the pinnacle of leadership in the financial and insurance sectors.

Share :

You may also like...

Joe Kinvi 

He has a strong background in finance, having held significant roles such as Head of Finance at Touchtech Payments, which was acquired by Stripe, as well as positions at Stripe and Paystack.

Read More »

Wale Ayeni

Wale Ayeni is a champion of Africa’s startup ecosystem and an advocate for venture capital and investment on the continent.

Read More »
Posted on

Mirna Arif

Mirna Arif is the General Manager of Microsoft Egypt, the first woman to assume this role.

 

Arif has over 20 years of experience in the technology industry, having worked for multinational organizations and public sector entities across Europe, the Middle East, and Africa. Prior to joining Microsoft, Arif held several senior positions at GE Oil & Gas, Emerson Automation Solutions, and Surface Business Group. She is passionate about digital transformation and is committed to helping Egyptian organizations accelerate their digital journey.

Arif is also a strong advocate for diversity and inclusion in the workplace. She is a board member of Egypt Women on Boards Observatory, Egypt’s Chamber of Information Technology & Communication, and the Advisory Board of UNICEF GenU Egypt (Shabab Balad).
She is a highly accomplished and respected leader in the Egyptian technology industry, with her appointment as General Manager of Microsoft Egypt a testament to her skills and experience.

Under Arif’s leadership, Microsoft Egypt has made significant progress in helping Egyptian businesses and the country embrace the digital future.
She has overseen the launch of several new initiatives and programs, including the Microsoft Egypt Innovation Center and the Microsoft Egypt TechSpark Accelerator. In recognition of her many achievements, Arif has received numerous awards and accolades, including the Women Forum’s Top 50 Most Influential Women in Egypt, the Women in Tech Global Leadership Award, and the Egyptian Women Forum’s Distinguished Female Leader.

Share :

You may also like...

Caren Wakoli

In a world where leadership and social impact are more critical than ever, there are individuals who stand out as beacons of hope and empowerment.

Read More »

Felista Aku

In the dynamic landscape of Africa’s burgeoning startup ecosystem, Felista Aku stands out as a driving force behind fostering innovation and entrepreneurship.

Read More »
Posted on

Techstars Toronto Accelerator Program Backs 10 African Startups in 2023 Cohort

New Investments

Techstars Toronto Accelerator Program Backs 10 African Startups in 2023 Cohort

Techstars Toronto, a renowned accelerator program, has announced its 2023 summer cohort.

The cohort features ten promising African startups among a total of 24 companies.
 

This selection underscores Techstars’ continuous commitment to fostering innovation and entrepreneurship on the African continent and its recognition of the region’s burgeoning tech talents.

The 10 African startups selected for the 2023 Techstars Toronto summer cohort are:

 
  • CatalyzU (South Africa): A digital platform that vets, trains, & places Africa’s leading talent at global startups.
  • MPOST (Kenya): The startup empowers individuals in the developing world with virtual addresses.
  • Seso (Ghana): The startup is on a mission to bring transparency in Africa’s real estate sector.
  • Ladder (Ghana): Ladder is providing personalized financial advisory and accountancy services.
  • Payfi (Nigeria): A buy now, pay later startup that provides international students access to affordable housing.
  • Cutstruct (Nigeria): The startup provides a platform for a building material marketplace, driving efficiency in construction in Africa.
  • Chimoney (Nigeria): A fintech startup that provides digital financial services to Nigerians living abroad.
  • Reeple.ai (Nigeria): A fintech startup helping helping African immigrants in the Diaspora access seamless financial services.
  • Oval (Nigeria): A fintech startup that provides customers with DeFi-enabled products. 
  • Hulugram (Ethiopia): The Ethiopian startup is enabling social engagement for over 30 million internet users in the country via a chat-based platform.
The Techstars Toronto accelerator program is a three-month intensive program that provides startups with mentorship, resources, and networking opportunities to help them grow and scale their businesses.
 

The program concludes with a Demo Day, where startups pitch their businesses to investors and potential partners.

The selection of 10 African startups for the 2023 Techstars Toronto summer cohort is a testament to the growing dynamism and innovation of the African tech ecosystem.

 
These startups are poised to play a leading role in shaping the future of Africa and the world.

Share :

“We are delighted to partner with ISA to support the development of solar energy in Africa,” said Alain Ebobissé, CEO of Africa50. “This partnership will help to accelerate the deployment of solar energy in Africa and improve the lives of millions of Africans,” he added.

You may also like...

Posted on

Vincent Maposa

Vincent Maposa

Vincent Maposa is a South African entrepreneur passionate about innovative energy solutions.

 

He is the Founder and CEO of Wetility, a solar solutions company harnessing the sun’s power to keep South African homes and businesses energized. Founded in 2018, Wetility’s mission is to “make clean energy accessible and affordable for everyone in Africa.”

The company offers a wide range of products, including solar panels for homes and businesses, solar batteries, and solar water heaters.
Maposa’s innovative energy solution is helping businesses and homeowners save money on their energy bills, reduce their carbon footprint, and become more energy independent. Under his leadership, Wetility has achieved a number of notable milestones, including raising $48 million in debt and equity to expand its solar energy product.

Share :

You may also like...

Getnet Aseffa

He is the Founder of iCog Labs, a renowned AI and Robotics Research and Development Company based in Addis Ababa, Ethiopia.

Read More »

Samuel Alemayehu

Samuel is an Ethiopian entrepreneur and impact investor known for his work in Africa’s renewable energy and sustainable development sectors.

Read More »

Samuel Eze

Samuel Eze is a Nigerian entrepreneur, software engineer, and innovator leveraging technology to solve real-world problems and improve the lives of Africans.

Read More »
Posted on

Caren Wakoli

Caren Wakoli

In a world where leadership and social impact are more critical than ever, there are individuals who stand out as beacons of hope and empowerment.

 

Caren Wakoli, the founder of the Emerging Leaders Foundation (ELF), is one such remarkable individual. Her journey is an inspiring testament to the power of one person’s vision to create lasting change. Born and raised in Kenya, Caren recognized the immense potential within her country’s youth population, despite the many challenges they faced. It is for this reason that she set out on a mission to nurture this potential and transform it into tangible impact.

Caren’s vision gave birth to the Emerging Leaders Foundation, a non-profit organization that has since become a cornerstone of youth empowerment in Kenya.
Through ELF, she has provided young people with the tools, mentorship, and resources needed to become leaders and changemakers. Caren’s work extends beyond leadership development. She is a vocal advocate for gender equality and social justice, championing the rights of women and marginalized communities in Kenya.

Share :

You may also like...

Posted on

Dr. Adetola Salau

Dr. Adetola Salau

Dr Adetola Salau is a Nigerian author, social innovative entrepreneur, global educator, and transformation agent.

 

She has over two decades of experience driven dramatic results in the education sector, with a focus on reengineering the mindset of African children to create their economic prosperity through STEM skills. Dr Adetola Salau’s journey in education and STEM began with a deep-rooted passion for equipping the youth with the skills they need to thrive in a rapidly evolving world. Armed with this passion, she embarked on a mission to revolutionize education in Africa.

With a doctorate in education, Dr. Salau possesses a profound understanding of the pedagogical principles that underpin effective teaching and learning.
This expertise has been instrumental in shaping her innovative approach to STEM education, which places an emphasis on practical, hands-on learning experiences.

She envisions a future where African children are not just consumers of technology but active contributors to its advancement.
To realize this vision, she founded organizations and initiatives aimed at empowering children with STEM skills that are not only competitive but also transformative. One such initiative is the Global Educational Skills Summit (GESS), where Dr. Salau is a distinguished leader.

Share :

You may also like...

Agnes Kalibata

Agnes Kalibata is a Rwandan agricultural scientist, a policymaker and a champion for sustainable agricultural development in Africa.

Read More »

Rebecca Enonchong

Rebecca is a leading global provider of enterprise application solutions, a tech entrepreneur, a mentor, and an advisor to several technology startups.

Read More »
Posted on

Hany Al-Sonbaty

Hany Al-Sonbaty

Hany Al-Sonbaty is an Egyptian entrepreneur, investor, and visionary who has played a pivotal role in shaping the future of the MENA startup ecosystem.

 

With a passion for innovation and a commitment to fostering entrepreneurship in the region, Hany has made significant contributions to Africa’s tech ecosystem. He is the Managing Director of Sawari Ventures, a venture capital firm based in Egypt that invests in technology startups in the MENA region. He is also the Co-Founder of Flat6Labs, a startup accelerator program that has become a beacon of hope for early-stage startups across the region.

Under Hany’s leadership, Flat6Labs has emerged as a pivotal player in the MENA startup ecosystem.
The program offers startups financial support and invaluable mentorship and guidance, helping them transform their ideas into successful businesses. Hany’s journey from a visionary entrepreneur to a catalyst for change in the MENA startup ecosystem is inspiring. His dedication, passion, and unwavering commitment to fostering innovation have made him a role model for aspiring entrepreneurs across the region.

Share :

You may also like...

Posted on

Coumba Sow

Coumba Sow is a Senegalese agro-economist and public policy specialist.

 

Her remarkable journey in the service of vulnerable populations in the Sahel region is an inspiring testament to the power of perseverance, local knowledge, and global collaboration. Since 2017, Coumba Dieng Sow has been at the forefront of emergency humanitarian and resilience efforts for the FAO in Africa.

One of the hallmarks of Coumba’s work is her advocacy for the use of endogenous knowledge, including agroecology and local investments, to reduce vulnerabilities and promote sustainable agriculture.
Her belief in the power of communities to adapt and thrive under adverse conditions is both admirable and effective.

Coumba’s most significant initiative is the “1 million cisterns for the Sahel.”
Inspired by Brazil’s successful Fome Zero program, this initiative seeks to provide rural communities with better access to water in the face of climate change. Coumba is currently serving as FAO’s Country Representative for Rwanda.

Share :

You may also like...

Tokunboh Ishmael

Tokunboh is a Nigerian mentor, entrepreneur and investor who has dedicated her career to driving economic growth and social impact in Africa.

Read More »

Joyce-Ann Wainaina

Joyce-Ann Wainaina is a Kenyan businesswoman and the founder and Managing Partner of Chui Ventures, a Pan-African seed fund with a gender-inclusive focus.

Read More »