Kenyan insurtech, Lami Technologies, has secured a seed round to the tune of Three million Seven Hundred Thousand US dollars ($3.7 million) this was made known during an interview with journalists.
Lami Technologies launched its first product in 2020, intending to increase insurance access in Kenya and to Kenyans and possible to the whole of Africa.
To make this possible, Lami began by developing and distributing an end-to-end digitally enhanced insurance platform, APIs that helped companies from various industries develop special insurance tools and solutions for their clients.
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Through the API platform, Lami began to create a niche for itself in the insurance industry, the insurtech has also planned to make some technology solutions available which will digitalize brokers and agents through which their services are streamlined, thereby enabling them to reach a wider audience for sales purposes, this will be done online, from their comfort zone.
While hosting Journalists, the CEO and Founder, of Lami Technologies, Jihan Abass, revealed that the insurtech will be launching into the Nigerian and Egyptian insurance market, noting that the just raised seed round will see to the company’s extension to these nations.
The seed round was led by Harlem Capital, ( an investment organization that invests in companies with minority or female founders), other investors include Peter Bruce-Clark of New York research-focused venture capital firm, Newtown Partners also a venture capital firm, Caribou Honig and Jay Weintraub of InsureTech Connect, and others.
This recent raise beats the previously risen round from last year which was One Million, Eight Hundred thousand dollars.