IFC leads $17M investment in South African insurtech Naked

Naked, a South African insurtech company that helps consumers to insure their cars, homes, and valuables, has raised $17 million in Series B funding led by the International Finance Corporation (IFC).
The round welcomed participation from the German Development Finance Institution (DEG), and earlier investors, Yellowwoods and Hollard. The news follows the Naspers-led $11 million Series A round that the South African insurtech announced in August 2021.
According to a statement, the funding presents Naked with an opportunity to improve its AI and use it to grow Africa’s insurance market which is

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