Naked Insurance raises 17 million USD in funds

The South African insurtech Naked Insurance is raising 290 million ZAR (17 million USD) to finance its expansion in Africa.

The operation is led by the international finance company (IFC) alongside the German development finance institution (DEG), Hollard Insurance Group and Yellowwoods, two former shareholders of the startup.

Founded in 2018, Naked Insurance offers 100% digital motor, home and other valuables insurance solutions.