Nigeria insurtech raises $450,000 in pre-seed round

Curacel looks to fast-track claims and process fraudulent defects for health insurance companies. The intelligence insurtech startup is powered by an AI platform that processes claims and manages fraud across Africa.

Curacel has secured $450,000 in pre-seed funding to accelerate the development of new products and fund their expansion across the continent. The funding was led by Atlantica Ventures and Consonance, in a move that attracted participation from Kepple Ventures and other angel investors across Africa.

Curacel currently works with some of the biggest insurers such as Liberty Health, AXA Mansard, and Old Mutual. It also works with over 800 hospitals and across Ghana, Uganda, and Nigeria with the intention to expand to a further 10 countries by 2021.

Curacel will launch a cash advance product, Curacel Capital, that makes it easier for healthcare providers to access working capital and mitigate financial challenges.