Curacel, an insurance tech startup, raises $450k in pre-seed funding


Image supply: Curacel

Curacel, a Nigerian startup that builds technology to energy insurance firms, has raised $450,000 in a pre-seed funding spherical.

The startup has been in existence since 2018 and bills itself as a leading claims and fraud detection platform in Africa, serving to insurance firms observe fraud, atomize and abuse of their companies. Their solutions duvet health, streak back and forth and auto insurance.

Curacel lists AXA Mansard, Liberty Health, Mature Mutual and a few other insurance firms all over Africa among its customers, and intends to be ticket in 10 African nations by the discontinuance of 2021 the exercise of the money it has raised.

Henry Mascot, Curacel’s co-founder and CEO, defines the firm’s vision as “bettering insurance inclusion all over Africa.” 

They’re driving that mission by deploying cloud-essentially essentially based tools and APIs to produce particular that that insurance firms operate efficiently. Which manner serving to such firms most efficient pay claims for the correct drugs, acceptable drugs and instructed affected person therapies.

Curacel has helped their customers lower fraud, atomize and abuse claims payouts by as much as 25% and saved them an entire of $320,000, in step with data on their web page. In addition they claim to safe processed higher than 700,000 claims and safe the capability to process a huge amount. 

Curacel’s pre-seed spherical used to be led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel buyers.

“The African insurance market represents a foremost enhance replacement and we’re contented to be partnering with Curacel to drive enhance on this sector,” says IK Kanu, Accomplice at Atlantica Ventures.

“There is a chance to produce an utterly recent market of services and products and products right here and we watch for supporting the physique of workers to enhance health outcomes all over the continent.” 

Mobolaji Adeoye, Managing Accomplice at Consonance, echoed Kanu’s thoughts, saying Curacel “has what it takes to be market leaders.” 

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