South Africa-based startup, Inclusivity Solutions helps to design, build and operates inclusive digital insurance solutions raises US1.3 miillion in the second tranche of its series-A round
The first tranche that the startup, Inclusivity Solutions raised was $1.56 million. Now, it has received another installment that amounts to $1.3 million. The recent investment the startup acquired is from Goodwell investments, South Africa-based Umkhathi Wethu Ventures (UWVentures), in partnership with Fintech MFS Africa and Allan Gray.
Furthermore, Inclusivity Solutions have said that it is spreading its wings to other African regions. It said it had introduced its digital insurance initiatives to countries like Rwanda, Kenya, and Cote d’Ivoire. It also partnered with other businesses to achieve this feat. This includes Airtel, Orange, and Equitel belonging to Equity Bank.
Management of Inclusivity Solutions also commented that collectively, a wide array of hospital cash, including simple life products, has provided the much-needed protection to over 700,000 people
The latest investment of $1.3 million will be used to deepen the company’s footprint in its already existing market. Others will be to support its international expansion and speed up innovation in the backbone technology platform called ASPin. ASPin is a platform that underpins the company’s three existing products.
The CEO of MFS Africa, one of the investors, Dare Okoudjou, commented on Inclusivity’s recent investment. According to the CEO, he has known the company, Inclusivity Solutions’ team, for a reasonable number of years.
He also went further to state that being a player in the fintech niche, his startup has had the privilege of collaborating with Inclusivity Solutions on a few occasions