Ctrl, a short-term insurance startup based in South Africa, has raised $2.3 million from Naspers Foundry.
Pieter Erasmus, Pieter Venter, and Francois Venter founded Ctrl, a digital short-term insurance advice platform, in 2017.
Through its one platform, which connects consumers, brokers, and insurers, the firm offers a unique software solution to the short-term insurance market and consumers.
It also allows underserved people to compare numerous prices, acquire advice, and maintain policies by allowing brokers to deliver insurance advice digitally.
Pieter Venter, CEO and Co-founder of Ctrl, said, “We are pleased about Naspers Foundry’s investment given their considerable experience in establishing tech start-ups. We feel we are in the best position to expand our business at this time, and we are thrilled about Ctrl’s future as we disrupt the insurance industry,” says the CEO.
“Ctrl is an excellent example of how technological advancements may enhance traditional business structures that we utilize in our daily lives. “Our investment in Ctrl shows the value of the work Naspers Foundry does in South Africa,” said Naspers South Africa CEO Phuthi Mahanyele-Dabengwa.
Ctrl has garnered numerous awards for its efforts to advance the insurance industry’s digital transformation.
MTN App of the Year: Best Financial Solution in 2018 and MTN App of the Year: Best Social Impact at the SA Startup Awards in 2019 are two examples.
Crtl was also chosen for the Endeavor and SA SME Fund Local Scale Up program recently.
Ctrl enables consumer-facing businesses to enter the insurance consulting sector by providing insurance solutions to their existing consumers, allowing them to earn more money.
As a result, customers have more control and convenience over their insurance needs.
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