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Insurtech infrastructure company Curacel — an AI-powered platform for claims processing and fraud management in Africa — has just announced a raise of a $450,000 pre-seed funding round to accelerate product development and expansion efforts for the startup across the African continent. According to a press release shared with AfroTech, the funding round was led by Atlantica Ventures and Consonance with participation from Kepple Ventures and other African angel investors. Curacel — which was originally founded in 2018 — reveals that the new funding will be used to help facilitate Curacel’s goal of becoming Africa’s premier provider of embedded finance technology for insurance and drive insurance inclusion across 10 new African countries by the end of 2021. “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,” Curacel co-founder and CEO, Henry Mascot shares in a...
Social media platforms have become a bit of a double-edged sword for businesses. In one sense, they’re essential for marketing your business and driving new traffic to your website and services. Alternatively, any bad press or bad reviews on social media can turn online crowds against you and cause significant reputational damage to your business. Just last year, the Red Hen restaurant in Lexington, VA, received thousands of negative online reviews within days after the owner asked press secretary Sarah Huckabee Sanders to leave . It also resulted in a ripple effect on the town’s local economy, forcing the city government to spend money on digital marketing to boost tourism in the wake of the controversy. The damage went even further. Multiple restaurants by the same name and unconnected to the event also received negative social media attention as a result. Small businesses have some major watch-outs when it comes to social media: Not only can negative attention spread quickly on...
Purchasing insurance for your small business may seem like a daunting task. It’s important that you buy the right amount so you’re not underinsured if problems arise or paying too much for coverage you don’t need. To determine what’s essential, consider the value of your company’s assets, including property, equipment and inventory. Several types of insurance policies exist to help you protect what’s most important. You also may be legally required to buy certain kinds of insurance based on state laws. Continue reading to learn about common types of small business insurance that entrepreneurs should consider purchasing. We’ll help you figure out what’s right for your business. 10 types of small business insurance When lining up insurance for your small business, consider choosing from the following types of policies. 1. General liability insurance General liability insurance provides coverage that protects businesses from property damage and bodily injury claims, as well as certain...
Modern life insurance startup Ethos recently announced they’ve raised $35 million in a Series B round of funding. The company’s method of providing online and mobile sales channels provided by the Lincoln, Neb.-based life insurance company, Assurity Life, seems to be working as this amount has significantly increased since their Series A round of $11.5 million. The previous round came from Will Smith’s Smith Family Circle ; Robert Downey Jr.’s Downey Ventures ; Kevin Durant’s Durant Company ; Arrive, a subsidiary of Jay Z’s Roc Nation ; and leading Silicon Valley investment firm Sequoia Capital. The new investment from Google Ventures (GV) and returning investors, Sequoia Capital and Arrive, was led by Accel Partners. Accel’s Nate Niparko will join the Ethos board of directors and GV General Partner, Tyson Clark, will join as an advisor. The non-commission-based insurance company prides itself on being a more equitable provider by offering term life insurance that only requires...