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
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.
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...
African Investors Participate in 69% of Tracked Deals as Regional Lenders Expand Their Role
African-headquartered investors participated in 69% of African private market transactions with identified investors in the third quarter of 2026, up from 61% in the preceding quarter and 63% a year earlier, according to Stears.
BII Launches Kenya Strategy With $6.7 Billion Investment Plan for Africa
British International Investment (BII), the UK’s development finance institution, has launched its 2026–31 strategy in Kenya, outlining plans to invest about $6.7 billion of its own capital across Africa and attract up to $5.3 billion from private investors.
Enza Capital Launches Dedicated Fund for African AI Startups
Enza Capital, a Nairobi-based venture capital firm, has launched a dedicated fund to invest in artificial intelligence startups and businesses using AI across Africa.