MyCover.ai Raises $1.25M Pre-Seed Funding
MyCover.ai is an insurtech startup based in Lagos, Nigeria, is changing the way Africans utilize and experience insurance by embedding policies into popular products and services and streamlining claims processes.
Funding led by: Ventures Platform
Participation from: Founders Factory Africa and TechStars
Total Funding Amount: $1.25M
Funds Use: The company plans to use the funds to strengthen its in-house operations and tech talent, invest further in its proprietary technology, and strategically expand its operations into other African markets.
About: MyCover.ai is an insurtech startup based in Lagos, Nigeria, is changing the way Africans utilize and experience insurance by embedding policies into popular products and services and streamlining claims processes. Led by CEO Adebowale Banjo, CPO Alexander Igwe, and CTO Fred Ebho, the company provides an open insurance API that collaborates with insurance firms such as Hygeia, Leadway, Sovereign Trust, AIICO Insurance, and Allianz, offering over 30 personalized insurance products. This enables businesses and innovators to embed these insurance products into their platforms.
MyCover.ai's range of products has found application across sectors like logistics, mobility/ride-hailing, e-commerce, BNPL platforms, fintechs, and more.