The Empower Africa Business Platform is Now Live !!!
The investment was led by prominent venture capital firms led by Ventures Platform Fund, with participation from Founders Factory Africa and Techstars, who are making a follow-on investment.
Founded in 2021, MyCover.ai aims to disrupt the traditional insurance industry in Africa by leveraging cutting-edge technology to provide accessible, transparent, and personalized insurance products to individuals and businesses alike. This recent pre-seed funding will play a crucial role in supporting the startup’s expansion plans and advancing its mission of fostering financial inclusion across the continent.
MyCover.ai’s innovative approach to insurtech centers around harnessing the power of artificial intelligence (AI) and data analytics to create tailored insurance solutions that meet the unique needs of customers. Through their platform, users can easily access a range of insurance products, from health and life coverage to property and auto insurance, all at competitive and affordable rates.
“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.

Nigerian fintech Moniepoint Inc. has successfully raised more than US$200 million in a Series C equity financing round.

Nairobi-based mobility firm Spiro has raised $100 million in a funding round — the largest investment ever made in Africa’s two-wheel electric mobility sector.

British International Investment (BII), the UK’s development finance institution, has made a major anchor commitment to Enko Capital’s new private credit vehicle — the Enko Impact Credit Fund (EICF).