SA insurtech firm secures funding from Nasdaq-listed Greenlight

South African insurance technology company Click2Sure, founded by former Naspers executives, said on Wednesday that it has secured funding from Nasdaq-listed Greenlight Capital Re.

Founded by former Naspers chief technology officer Jacques van Niekerk and former Groupon South Africa CEO Daniel Guasco, Click2Sure, which describes itself as a “full-stack digital insurance platform”, will use the funding to expand the business globally.

The investment is being made through Greenlight Re Innovations, part of Greenlight Capital Re.

The investment has been motivated by two factors: Click2Sure’s “modular and scalable” cloud-based technology that “disrupts the traditional face-to-face broker network, call centre and server-based industry”, and the experience of the founding partners, the company said.

Van Niekerk has served as chief technology officer to several South African e-commerce companies, including Takealot, Mr Delivery and Prodigy Finance. Guasco was founding director of online buying website Twangoo before running Groupon in South Africa.

Click2Sure, which was founded in 2017, was selected as one of four fintech companies in the inaugural AlphaCode Accelerate programme. Its clients include Takealot, Uber, Guardrisk, Xiaomi, Pricecheck and Hyperli.

The investment in Click2Sure is the third such deal announced by Greenlight Re Innovations, which was launched in March 2018 to seek technology and innovation opportunities relating to the reinsurance and insurance markets.

The terms of the investment has not been disclosed.  — © 2018 NewsCentral Media