Pineapple concludes R400-million funding round

[Jan]

Pineapple raises R400 million

Digital insurance provider Pineapple has concluded a R400-million funding round.

According to Pineapple, the transaction sets a new record as the largest Insurtech fundraised on the continent.

 

[DavidKinnes]

I asked for a quote and then they wouldn't stop calling me, I eventually blocked them.

 

[homeboy]

I use their services without any issues, did a few claims. Covid came and I couldn't afford it. I never had any isuues with my claims.

 

[epah]

Wouldnt touch them with a barge pole.

 

[ShaunSA]

Wouldnt touch them with a barge pole.

I thought your barge pole was just for decoration?

 

[BuckRogers]

congrats @Pineapple Smurf

 

[epah]

I thought your barge pole was just for decoration?

No it gets used every now and then.

 

[SlowInternet]

I asked for a quote and then they wouldn't stop calling me, I eventually blocked them.

True

 

[grant_cpt]

So next up: Pineapple vs Naked Insurance?

 

[Sarg3_ZN]

congrats @Pineapple Smurf

Is he starting a band... a political party... or a brewing company?

 

[Romeo_RX]

No it gets used every now and then.

Don’t forget to sanitize it with HTH afterwards.

 

[Sapphiron]

I am always concerned when a company has hundreds of millions from external investors, their service levels are determined by those investors, rather than the people who started the company.

Its a warning to stay away from services where you require a high level of service in order for it to be effective.

Like at claims stage

 

[Sapphiron]

No it gets used every now and then.

 

[Crumbl0x]

I signed on with Pineapple mainly because of their Drive-Less program.
I'm kind of late into the driving game and premiums are extremely high as one can imagine [Outsurance looked me dead in the eye and said R1700 for a 17 year old small hatchback], but at least this way I'm saving nearly R350 due to the short commute I take which I'm thankful for.

Their app has been frustrating in the beginning as the self inspection would fail often and had to be done thrice (twice in app, once with an Autoboys branch who, funnily enough, haven't heard of Pineapple despite their partnership) but so far service has been on the ball to help me with all the small issues I had. I'm just hoping I can stay claim free for at least a year and that their process will be relatively smooth if so...

 

[6spdmanual]

I am always concerned when a company has hundreds of millions from external investors, their service levels are determined by those investors, rather than the people who started the company.

Its a warning to stay away from services where you require a high level of service in order for it to be effective.

Like at claims stage

Its a Fintech, where else are they supposed to get money?

 

[Sapphiron]

Its a Fintech, where else are they supposed to get money?

you mean a company operational funded by growth, rather than a sustainable business model?

 

[6spdmanual]

you mean a company operational funded by growth, rather than a sustainable business model?

You are aware that insurance is all about scale right, especially the products Pineapple offer? Let them cook Bro.

 

[OutlawJoseyWales]

Have you heard worse adverts than Pineapple's.... at least on 567 Cape Talk radio.
Really low IQ ads that puts me right off.

 

[Sapphiron]

You are aware that insurance is all about scale right, especially the products Pineapple offer? Let them cook Bro.

I just think insurance is one of those industries that should not have a profit motive. or at least regulated profits.

 

[Petec]

Its a Fintech, where else are they supposed to get money?

There apparently is a certain couch on a farm, that's loaded up with wads of cash.