Deya, the Luanda based crowd funding startup is super excited to announce that it has closed a US$ 50,000 pre-seed funding round from local investors to improve the development of the platform and bring a better user experience and new products, as well as taking the important step in starting to implement its business model.
According to Deya, since the beginning of the covid-19 pandemic, they have again seen the power of crowdfunding and online communities thus driven by events and the need to accelerate a better experience for users. They started in mid-2020 to prepare Deya to open a pre-seed financing round so that it could have the necessary resources to respond to the market.
Started in 2017 by the startup studio Bantu Makers and Doriel Fonseca, Deya is the first Angolan and PALOP crowdfunding platform. Its mission is to help boost access to finance for social impact causes and entrepreneurial projects, where they securely connect fund-raisers and funders or donors.
Commenting on the round is Vanda de Oliveira, the co-founder and CEO of Deya who said,
“I am very excited about the success of this financing round, as it lasted for almost a year until we closed negotiations with investors.”
Vanda continues that the new financing is critical for the reason that it allows them develop new intellectual property for the platform and expand Deya’s offer so that its users (individuals and organizations) are able to access the most value possible, and enable the greater growth of the platform.
Since its launch, the crowd funding platform has helped raised more than US$ 22,000 for social impact projects. The startup, which currently operates the donation and reward models, is already designing the implementation of the equity (capital) model to be launched later this year, to allow innovative businesses and SMEs to raise funding.
Per a 2013 World Bank study, there exists an opportunity for more than 344 million people in emerging countries to participate in crowdfunding, and the African continent has a market potential of US$2.5 billion by 2025.
The CEO of Deya also revealed that the beauty of crowdfunding is the possibility for individuals, companies as well organizations to have the ability to raise funds without the inter-mediation of banks or other traditional financing methods.
Deya hopes to become the reference platform in the crowdfunding industry in sub-Saharan Africa in the next five years. This new pre-seed financing is the first phase to enforce this objective.
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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