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Allianz X Invests in Uganda’s Ride-Hailing Platform, SafeBoda

TechInAfrica – The digital investment unit of the Allianz Group, Allianz X, has announced an investment in a Uganda-based ride-hailing platform, SafeBoda. Not only does it provide a ride-hailing service, but the platform also offers various on-demand consumer and payment services.

SafeBoda aims at offering a convenient and reliable ride-hailing platform for its customers while at the same time providing mobile payment service as part of its contribution to financial inclusion on the continent.

Allianz X co-leads the Series B investment, co-investing with Go-Ventures , a cornerstone investor of GO-JEK. For the record, Allianz and GO-JEK are partners in GO-JEK’s home market, Indonesia.

Allianz X Invests in Uganda’s Ride Hailing Platform, SafeBoda
Allianz X Invests in Uganda’s Ride-Hailing Platform, SafeBoda via allianzx.com

Speaking about the investment in SafeBoda, Oliver Ullrich, Corporate Development Director at Allianz X remarked: “Our investment in SafeBoda underlines our continued commitment to growth markets. We are excited to participate in the development of ride-hailing ecosystems in Africa.”

SafeBoda has successfully established itself in the ride-hailing market in Uganda and we look forward to supporting the company’s expansion into additional countries and services,” added Ullrich.

The investment in SafeBoda is part of Allianz’s mission to leverage its regional presence and capabilities. Through the partnership, Allianz takes part in transforming transportation, logistics, and payment sectors on the continent.

Oliver Ullrich, Corporate Development Director at Allianz X
Oliver Ullrich, Corporate Development Director at Allianz X via insurtechinsights.com

SafeBoda is a promising start-up with substantial growth potential, including the development of relevant financial services and insurance products. We look forward to our strategic collaboration and to being part of SafeBoda’s success story,” said Coenraad Vrolijk, CEO of Allianz Africa.

Commenting on Allianz X’s investment in SafeBoda, Alastair Sussock, Co-CEO and Co-Founder of SafeBoda stated: “SafeBoda is excited to have Allianz X join our investor group, particularly as we deepen our platform and add a number of important FinTech services for both SafeBoda drivers and passengers. We are confident that collaborating with Allianz  will enable us to grow the business and impact the wider community across East and West Africa.”

About Safeboda

SafeBoda is a leading on-demand transportation service provider in East Africa. SafeBoda provides value to consumers, drivers, and passengers, with additional financial services, payments, and other on-demand services to keep Africa moving forward.

About Go-Ventures

Go-Ventures is a venture fund that aims to invest in early-stage businesses globally.

About Allianz X

Allianz X is the digital investment unit of the Allianz Group, one of the world’s leading insurers and asset managers, and part of the Group’s Renewal Agenda. Allianz X invests in digital growth companies that are part of our ecosystems related to insurance: Mobility, Connected Property, Connected Health, Wealth Management & Retirement, and Data Intelligence & Cybersecurity. We provide an interface between portfolio companies and the digital ecosystem within Allianz as well as drive innovation across Allianz’s operating entities and global lines of business.

Source: allianz.com

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