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.
Saudi Arabia’s Vision Invest has acquired a stake in Arise Integrated Industrial Platforms (Arise IIP) via a capital injection of $700 million, in what is one of the biggest private infrastructure financing events in Africa.
Acumen, the global impact investment firm, has introduced its second iteration of the KawiSafi fund, a private-sector investment vehicle dedicated to scaling climate-focused solutions throughout the African continent.
South African financial technology startup Float, a pioneering card-linked instalment provider, has secured US$2.6 million in a fresh funding round.