Nigerian Insurtech Startup Octamile Raises USD 500 K Pre-Seed

Nigeria’s Octamile, an insurtech company enabling insurance and non-insurance businesses to protect African consumers from financial loss, has come out of stealth mode with USD 500 K in pre-seed funding. The round was led by EchoVC Partners, with participation from Fiat Ventures, Kesho VC, Trade X, Verraki Partners, Dale Mathias, Kyle Daley, and other local and international angels. 

The Octamile solution enables non-insurance businesses to offer insurance as a feature in their pre-existing products, while insurance providers are offered the data and technology necessary to improve customer experience, reduce administrative costs and optimize the profitability of their insurance portfolio.