New Investments

MyCover.ai, a Nigerian startup specializing in insurance technology solutions has secured $1.25 million to disrupt the traditional insurance industry in Africa

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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.

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