Ctrl, a South African short-term insurance advice platform connecting brokers, consumers, and insurers to a single platform, has raised $2.3 million (R34 million) from Naspers Foundry. Traditional insurance brokers can now digitize and optimize their business operations through Ctrl’s digital solution.
This investment is part of Naspers R1.4 billion commitment towards tech startups through its investment vehicle, Naspers Foundry. The Software-as-a-Service platform was founded by Pieter Erasmus, Pieter Venter, and Francois Venter in 2017.
Commenting on the news, Naspers SA CEO Phuthi Mahanyele-Dabengwa described Ctrl as a great example of how tech-driven innovations can improve upon traditional business models. Head of Naspers Fabian Whate described Ctrl as a “smart digital platform” that is unlocking consumer choice resulting in competitive pricing. Pieter Venter, Naspers co-founder, and CEO pointed out Naspers Foundry’s “vast experience” in the growth of tech startups.
Ctrl has an accomplished past full of awards in its quest to accelerate digital transformation in the insurance sector. They won the MTN App of the Year: Best Financial Solution in 2018. The insurtech startup was recently selected for the Endeavor and SA SME Fund Local Scale Up programme.
Big news at the Ctrl tower is that Naspers is investing in us! We are thrilled that they believe in our vision of transforming the insurance industry. #TechForGood #SouthAfrica #insurtech🇿🇦 https://t.co/RIByFHQjlA @Naspers @ctrlpieterv @PELErasmus @fventer3483 @FabianWhate pic.twitter.com/XEFX5mq4m6
— ctrl.advisor (@ctrl_advisor) July 21, 2021