Kenyan insurtech Pula recently made a Series A investment of $ 6 million. The tour was led by pan-African venture capital firm TLcom Capital, with the participation of the non-profit organization Women’s World Banking. These new funds will help it to develop in its African markets and to embark on the conquest of Asia and Latin America.
Pula is active in 13 African countries which are Senegal, Ghana, Mali, Nigeria, Ethiopia, Madagascar, Tanzania, Kenya, Rwanda, Uganda, Zambia, Malawi and Mozambique. It offers insurance solutions to farmers there, at an average premium of $ 4. Having realized that African solutions in this area were of equal value with those in Europe and Asia, the young woman decided to go for countries like the Philippines, Thailand, Turkey, and Pakistan.
The success of such an adventure will certainly depend on the quality of the partnerships that the company manages to form. As Rose Goslinga, one of the co-founders, explained, this is one of the fundamental reasons for the startup’s success in Africa. “We are able to work in 13 countries not because we have insurance licenses in all these countries, but because in each of these countries there are insurance companies that are ready. [à assurer des agriculteurs] if they are helped by a company like ours ”, she said.
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