Galaxy S25 Series Generic(970x90)

NewsStartups

South African Insurtech, Naked, Secures $38M in Series B Funding Round

naked-insurance

South African insurance-technology start-up, Naked, has announced the close of  R700-million ($38 million) series-B funding round. 

Galaxy S25 Series Generic(336x280)

The Insurtech was founded back in 2018 and has created a fully digital platform that uses automation to speed up the process of buying insurance and making claims after a loss. This is done without engaging with a call centre agent. The company claims in sells 100% of its card, home and single-item insurance policies online without any human intervention, using artificial intelligence and machine learning to make decisions.

The funding round saw the participation of BlueOrchard as well as some other existing investors including Hollard and the International Finance Corporation.

The startup will use the funds to meet regulatory capital requirements. “Additionally, the funds will be used to meet the regulatory capital requirements tied to the rapid growth and evolution of Naked’s business,” the company said.

Image source

Now Read: SeamlessHR Raises $9M to Expand Across Africa

About author

Editor at TechArena. I cover all things technology and review new gadgets as I get them. You can reach me on email: [email protected]
Related posts
News

15 Digital Innovation Hubs Selected Under DigiKen Initiative

News

Ethio Telecom Unveils EV Charging Station in Addis Ababa

FeaturesNews

Live the love, frame the moment: 4 perfect Canon gifts to capture Valentine's Day memories

News

dLocal Partners with AZA Finance to Expand Cross-Border Payment Solutions Across Africa

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.