South Africa Insurtech Startup Root Raises USD 1.5 M Funding

South African startup Root Platform, the low-code, API-first, end-to-end insurance technology platform provider, has raised USD 1.5 M in funding from from Invenfin, the venture and growth capital arm of Remgro, to accelerate its expansion plans. The company will use the funding to accelerate its plans to expand in the UK and Europe.

Root is an end-to-end insurance platform that helps companies build, sell and manage digital insurance products in Africa, the UK and Europe. The startup packages the “hard things” in insurance behind easy-to-use APIs, allowing any company to build and deploy new insurance products themselves.