South Africa’s first digital insurance company Naked is set to receive an investment of $17 million from the International Finance Corporation, or IFC. This expansion of capital comes as the insurtech continues to expand its reach in the South African market. Naked Insurance was established in 2019 and has since become one of the leading… Continue reading leads investment
Category: african
Why Africa had no unicorns last year despite record fundraising haul
In 2019, Africa saw its highest ever venture capital fundraising total, with over 8 billion USD invested in the African tech startup ecosystem. This was an enormous achievement, but it didn’t bring about the same success for African-based unicorns. While startups across the continent raised record amounts of funding, there were no new unicorns emerging… Continue reading Why Africa had no unicorns last year despite record fundraising haul