Kenyan start-up, Turaco, has continued Africa’s innovation boom locking in $10 million via AfricInvest and Novastar Ventures to expand further via partnerships. Acting as a platform between customer and underwriter, its B2B and B2B2C model has seen the company build relationships with Sun King, One Acre Fund, Tugende, M-KOPA and VisionFund. “We are proud to help drive insurance adoption, especially among low-income earners. 90 per cent of our customers have never had insurance before, but the surprising thing is that people really want to buy insurance! They just don’t have easy access to products that really work for them. This investment enables us to scale our business to serve millions of insurance customers across our current markets and beyond. We are thrilled to have these great new investors join our team for this next season of growth,” said Turaco CEO and co-founder Ted Pantone.

Source: Disrupt Africa

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