Root raises $3 million

Root , a Cape Town-based startup building infrastructure for the digital insurance economy, has closed a $3 million seed funding round. It intends to use the capital to roll out its flexible low-code digital insurance platform to new geographies.

Clients include Mr Price Money, FinChoice, Telkom, Metropolitan and Guardrisk for whom Root’s insurance infrastructure processes “millions of policies and thousands of claims each month.”

“As Root continues to unlock innovation in insurance, we are making it easier for innovators to put customers first and take the industry into the age of truly personalized and convenient embedded products. Closing this funding means that we can power more innovators, globally, and accelerate the process of transformation.” – Louw Hopley, CEO and co-founder.