Naked secures $38 million to advance AI-driven Insurance in South Africa
- Naked secured $38 million in Series B2 funding, its largest capital raise to date.
- The funding round was led by global impact investor BlueOrchard, with support from Hollard, Yellowwoods, IFC, and DEG.
- Naked's digital platform allows customers to obtain insurance quotes in under 90 seconds and purchase coverage online without paperwork.
Naked's innovative approach to insurance, leveraging technology and a purpose-driven model, positions it well to disrupt the traditional insurance landscape in South Africa. However, the company must remain vigilant in addressing regulatory challenges and competition as it scales its operations.
