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Local insurtech Naked secures R700 million in latest funding round [Video]

  • Naked insurance has announced a successful Series B2 funding round where $38 million was raised.
  • The round was driven by BlueOrchard, and existing backers Hollard, Yellowwoods, IFC, and DEG.
  • The insurtech says it will use the funding to enhance “its investment in automation and AI”.

South African insurtech company Naked is aiming to kick off the new year with sizeable funding behind it. This as it announced a successful Series B2 round where $38 million (~R700 million) was raised.

This follows last year’s R290 million in funding it raised in February, with the company outlining significant plans to invest in its technology suite, as well as expand in terms of its market share and reach.

“The Series B2 funding round was joined by global impact investor BlueOrchard, and also saw increased support from existing backers Hollard, Yellowwoods, International Finance Corporation (IFC), and Germany’s development finance institution (DEG),” Naked detailed in a release to Hypertext.

Alex Thomson, co-founder …

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