South Africa’s CompariSure closes funding round

South African InsurTech startup CompariSure has closed a funding round to support the increased adoption of its solution.

The round was supported by Umkhathi Wethu Ventures and angel investor Alan Gray, according to a report from Disrupt Africa.

CompariSure had closed a funding round in 2019 from 4Di Capital, which had not been publicly revealed, the article said.

With the close of the new round, the InsurTech will look to explore new strategic growth initiatives including the launch of new products and use cases for its chatbot, as well as moving outside of South Africa.

The InsurTech mobile platform helps consumers to get multiple life insurance quotes within minutes, enabling them to compare policies and find the best fit for them.

CompariSure has recently been offering its chatbot technology to insurance firms to help them deepen their own digital capabilities.

Earlier in the year, South African short-term insurer Santam invested into on-demand InsurTech platform JaSure and established a partnership.

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