Stars From All Nations -SFAN- the Accra based edu-startup company announces it has raised US$250,000 pre-seed funding from King Solomon Group, based in Ghana.
SFAN is with the mission of unlocking the potential of Africa so this pre-seed funding, the company discloses, will be used to bring a fresh perspective to talent development in Africa through their Readyforwork.africa career accelerator.
According to reports and sad to to note, on average, it usually takes a university graduate 6 years to land their first job. But on the side of demand, even when a job is available, the employer struggles to find early career professionals with the requisite skills needed for role.
The Stars From All NAtions – SFAN – has then taken it upon itself to bring the needed fresh perspectives to the scene through their digital career accelerator equipping entry-level job seekers with requisite job readiness skills and also helping potential employers find the most qualified talents across the continent.
The educational startup platform which has been pushing on with this vision for seven (7) years now is appreciative of the trust placed in it by the Ghana based funder, to scaleup their operations to even do more.
ReadyForWork Career Accelerator is an initiative by Stars From All Nations – SFAN – aiming at tackling these issues by equipping early career professionals with the skills and connections necessary to launch their careers – and helping recruiters make data-driven recruitment decisions.
With personalized educational content crafted by experts, one-on-one coaching, team conversations, and industry participation, learners are equipped with practical skills and exposed to real-world projects that empower them to take ownership of their career aspirations and grow in confidence that yields success. You can find out more and apply.
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Curacel: Insurtech Startup Secures $450K Pre-seed Funding Led by Atlantica Ventures & Consonance
The insurtech startup, Curacel, an AI-powered platform for claims processing and fraud management in Africa, reports that it has raised $450,000 pre-seed funding in a round that was led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors.
The insurtech startup already works with some of the biggest insurers on the continent, including AXA Mansard, Liberty Health and Old Mutual, as well as more than 800 hospitals in Nigeria, Ghana, and Uganda. It plans to expand into 10 new African countries by the end of 2021.
Every year, African insurers lose more than $12 billion to fraudulent, wasteful, and abusive claims. Curacel’s flagship CLAIMS platform acts as a bridge between primary care hospitals and Africa’s insurance companies, using advanced artificial intelligence to ensure that insurance companies only pay claims for the correct treatment, appropriate medications and recommended patient therapies.
Curacel is also scheduled to launch Curacel Capital, a cash advance product that makes it easier for healthcare providers to access working capital to mitigate financial challenges. Delayed payments and other inefficiencies in the payment process means many African healthcare providers often have to make the difficult choice between keeping the books balanced or providing healthcare at a loss. With Curacel Capital, healthcare providers can access lump sums of up to three times their average monthly billings, based on claims processed on the Curacel portal, ensuring that they can continue to deliver essential services without undue disruption.
With insurance penetration at just 2.8% across the continent, many Africans are one accident or health emergency away from poverty. And in Africa’s communal societies, tragedy impacts entire communities, with people emptying their savings to pay for medical expenses, burials or other disaster relief for family members and kin. By leveraging Curacel’s products and services, insurers across the continent are better equipped to close the insurance gap and safeguard prosperity.
According to Curacel Co-founder and CEO, Henry Mascot, in a press statement said,
“We are excited to have these investors on board and we are looking forward to partnering with them to drive our vision of improving insurance inclusion across Africa.”
At Curacel he shares, they are uniquely positioned to safeguard livelihoods and increase the quality of life through their unique, market-leading products and services.
IK Kanu, Partner at Atlantica Ventures noted that,
“The African insurance market represents a significant growth opportunity and we are delighted to be partnering with Curacel to drive growth in this sector. There is an opportunity to create an entirely new market of products and services here and we look forward to supporting the team to improve health outcomes across the continent.”
Finally, Mobolaji Adeoye, the Managing Partner at Consonance adds that they believe the Curacel team has what it takes to be market leaders and are therefore excited to support them. Also stressing that they have a great product and equally delighted to be coming onboard at this early stage of their growth.
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