Acorn Fintech, a South African start-up has just received funds from EPT Tech Fund, a venture capital firm. The venture capital firm is focused on emerging start-ups in Africa, aiming to secure pre-seed funds. The announcement was made on Tuesday by Joanna Govender, CEO of EPT Tech Fund.
The EPT Tech Fund seeks out high-potential and innovative young entrepreneurs with the ability to promote economic development in the country. So far, the beneficiaries of the venture capital firm include Agricode, Digital Pulse, What the Hack, MicroApps, Tech Swat, and Makwarela Campus 123.
Why invest in Acorn Fintech?
According to Govender, Acorn Fintech is paving the way in the insurance sector. The EPF Tech Fund was attracted to investing in Acorn Fintech because the company aims to make insurance and fintech more inclusive and reshape the industry's landscape.
“Acorn Fintech is paving the way for the future of insurance and fintech with its cutting-edge technology and customer-centric mindset. The company has developed a comprehensive suite of solutions, integrating insurance in financial services, empowering individuals and businesses to manage their risk and finances,” she said.
She further explains a key strategy used by Acorn Fintech, saying, “One of the key strengths of Acorn Fintech is its ability to leverage data analytics and artificial intelligence to drive insights and deliver personalised experiences. Through technology, Acorn Fintech is reshaping traditional insurance models, making them more accessible, efficient, and tailored to individual needs.”
“With this partnership, we envision a future where insurance and fintech converge seamlessly, enabling individuals and businesses to navigate financial risks with confidence and unlock new opportunities,” Govender added.
About EPF Tech Fund
The EPF Tech Fund is a privately managed Venture Capital Company. The investors fund companies that are committed to innovation in Africa by investing in youth-led technology solutions that are scalable across the continent. The company’s investment reflects the growing recognition of African fintech as an attractive investment opportunity, and this trend is expected to gain further momentum.
Driven by innovative technology products, processes, or platforms, the EPT Tech Fund aims to boost emerging tech start-ups' impact in South Africa. The EPF Tech Fund supports early-stage ventures that are creating new markets, transforming industries, and driving inclusive growth while realising strong returns for our partners.