Pineapple secures R80 million investment

[Jan]

Pineapple secures R80 million investment

Pineapple has closed its Series A funding, through which it raised R80 million. Notable investors include Lireas Holdings, the ASISA ESD Fund, E4E, Vunani Capital and Old Mutual.

Pineapple is an insurtech startup that launched in 2018. It has won many awards, including MTN Consumer App of the Year and the Stanford startup award.

 

[gregmcc]

@Pineapple Smurf Jeez congrats!

 

[Pineapple Smurf]

Um. I will gladly take a grand in advertising for the last year please.
Thank You RPM and JAN

 

[Zophos]

But will they be brewing beer?

 

[AfricanTech]

@Pineapple Smurf Jeez congrats!

Congrats! I want to know when I'm getting my cut from him!!!

 

[3WA]

Well done Bathurst! @Farmerj

 

[Longboi]

@Pineapple Smurf congrats you tipsy bugger. Now give us a case of beers.

 

[mikewazar]

Pineapple is an insurtech startup that launched in 2018. It has won many awards, including MTN Consumer App of the Year and the Stanford startup award.

Oh nice!

“We operate off a fixed fee, and unused premiums are returned to members,” he said.

He said with Pineapple, people can insure their car or their belongings in under 90 seconds via a mobile app or website.

Old Mutual Insure underwrites the insurance policies. Hannover-Re continues as the reinsurer and strategic partner to Pineapple.

Like https://granadilla.ai (https://www.nsinsurance.com/analysis/south-african-insurtech-start-ups/, 2019)

 

[Pineapple Smurf]

@Pineapple Smurf congrats you tipsy bugger. Now give us a case of beers.

Well Done Sir
Please PM your details to Wanita and Elouise to claim your case of pineapple beers

 

[ToxicBunny]

I would be interested if they did the full range of insurance beyond just cars and stuff...

 

[SlinkyMike]

I would be interested if they did the full range of insurance beyond just cars and stuff...

I figure it will get there. I saw these folks present in the startup scene around 2016 or so IIRC. They were tight af and they had big plans. Nice to see this article pop up.

 

[ToxicBunny]

I figure it will get there. I saw these folks present in the startup scene around 2016 or so IIRC. They were tight af and they had big plans. Nice to see this article pop up.

100% reckon they will get there as well...

For the moment though, them not doing things like building cover is a show stopper for me unfortunately. Their premium on my car was relatively attractive so I would assume they'd be competitive when they finally offer the full suite.

 

[rh1]

100% reckon they will get there as well...

For the moment though, them not doing things like building cover is a show stopper for me unfortunately. Their premium on my car was relatively attractive so I would assume they'd be competitive when they finally offer the full suite.

Probably a liquidity requirement. So they just building up the required cash reserves.