South African Insurtech Startup Nobuntu Raises Funding From Crossfin
Friday, May 10, 2019
By Tom Jackson
Nobuntu, which previously raised funding from DFS Lab and was recently selected to take part in the UK-based Go Global Africa programme, currently offers two products – affordable funeral cover, and a pension savings product named The People’s Fund.
It has now secured an undisclosed amount of funding from fintech holding company Crossfin, whose portfolio companies include the likes of wiGroup, iKhokha and Crossgate. As part of The deal was made through Crossfin’s Blue Garnet Ventures angel investment arm, which is also backed by Investec Private Capital, and will see Blue Garnet take a significant stake in Nobuntu alongside Crossgate.
Photo courtesy of John Hogg / World Bank.