South African Insurtech Naked Raises USD 11 Mn Series A Funding Round

Naked, a fully digital insurance platform offering comprehensive and quick cover for automobiles, homes, goods, and standalone items in South Africa, has raised a ZAR160 million (USD 11 Mn) Series A fundraising round headed by Naspers Foundry to help support its expansion goals.

Naked uses AI and automation to create a new type of insurance experience. Consumers benefit from lower costs and convenience in their insurance experience, as they can get a final insurance quote for their home, its contents, standalone items, or car in less than 90 seconds, as well as change or pause their coverage, all without having to speak to a contact center agent.