Naked, a South African insurtech company, receives a $17 million investment from IFC.
Naked Insurance, a South African insurtech business that assists customers in insuring their vehicles, homes, and valuables, has raised $17 million in
Naked Insurance, a South African insurtech business that assists customers in insuring their vehicles, homes, and valuables, has raised $17 million in Series B funding, led by the International Finance Corporation IFC. The German Development Finance Institution DEG and prior investors Yellowwoods and Hollard participated in the round with enthusiasm. Naked will be able to use the funding to develop its AI and expand the insurance market in Africa, which currently accounts for over $68 billion in annual gross written premiums. The company uses artificial intelligence to develop new customer processes and experiences without involving a contact centre agent, enabling businesses to realise significant cost savings from automation and pass them along to customers through lower premiums. The funding round will expedite the startups growth plans, including growing
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B2B Tech News | 1 months ago