How our Venture Build service led Mycover.ai to close a $1.25M pre-seed round
Mycover.ai partners with insurance companies to co-create and provide embedded insurance for businesses through its
open insurance API infrastructure.
Founded in 2021, the startup built an automated claims management system to allow businesses worry less about
the complex activities that comes with insurance while making their customers enjoy the convenience of instant
claims assessment and payouts.
Its API gives hundreds of businesses direct access to multiple insurance companies without worrying about complex legal partnerships, integrations or compliance.
Our venture build support for mycover.ai covered three areas
Fundraising
We facilitated discussions with angel investors and venture capital firms, tapping from our wide network. We helped source three venture capital firms who funded myCover.ai’s pre-seed round based on the significant revenue and customer traction over the last two years.
Strategic Partnerships
We were at the forefront in supporting myCover.ai’s successful partnership engagements that enabled integrations and agreements between businesses across 10+ sectors and the top insurance providers in Nigeria. We helped identify key potential partners, facilitated introductions and supported the team in developing win-win value propositions.
Governance
We supported mycover.ai in growing its team for expansion and identified an experienced set of advisors (insurance, technology and regulatory experience) to support the company in their next phase of growth.