Browsing: AfricInvest

Turaco, an insurtech promoting mass market insurance acceptance, has announced the completion of a US$10 million Series A equity investment headed by AfricInvest through the Cathay Africinvest Innovation Fund and previous partner Novastar Ventures.

Global Partnerships, Enza Capital, Operator Stack, Zephyr Acorn, Push Ventures, and Asi Ventures Limited also participated in the round.

  • Turaco, the leading insurtech promoting mass market insurance acceptance, has announced the completion of a US$10 million Series A equity investment
  • Turaco, founded in 2019, is a distributor, broker, and the primary customer interaction between the underwriter and the end customer
  • The objective of the insurtech company is to liberate people from the anxiety of financial shocks induced by unanticipated health risks

Turaco, founded in 2019, is a distributor, broker, and the primary customer interaction between the underwriter and the end customer. The objective of the insurtech company is to liberate people from the anxiety of financial …

  • The Fund invests in startups across various industries, including Mobility, Fintech, HealthTech, EdTech, Digital Content, AI, and AgTech, with initial check sizes ranging from one million euros to ten million euros
  • The team at CAIF is going to put a significantly increased emphasis on investing in the most promising firms in the early to growth-stage stages of their development.
  • Most recently, CAIF co-led the $8 million Series A investment raised by Tunisia-based EdTech startup GoMyCode.

 

Cathay Innovation, a global venture capital firm, and Africa’s multi-asset investment platform AfricInvest have announced that they have completed the final close of their combined Pan-African Venture fund, known as the Cathay AfricInvest Innovation Fund (CAIF), at a total of €110 million.

The Fund is supported by LPs such as the European Investment Bank (EIB), AfricaGrow, FMO, Bpifrance, Triodos Investment Management, Proparco, SIFEM, and BIO, amongst others, in addition to a diverse pool of …

AfricInvest, a leading pan-African private equity firm, has announced the fourth close of Financial Inclusion Vehicle (FIVE), an evergreen platform for investing in financial institutions in Africa.Through its investments, FIVE aims to improve access to financial services for the growing African population, while achieving attractive financial returns for its investors.

AfDB, the African Development Bank, joined the capital of FIVE alongside existing investors FMO and BIO both development finance institutions of the Netherlands and Belgium, respectively; Norfund, the Norwegian investment fund for developing countries; IFU, the Danish investment fund for developing countries; KfW, the German government-owned development bank and CBK Pension Fund, the pension fund of the Central Bank of Kenya.

As the current level of banking penetration on the continent is a mere 20%, achieving universal access will require a fivefold increase. Digital transformation is one of the key drivers toward the universal access and as such, FIVE seeks …