Ivorian insurtech startup WiASSUR has secured investment from the pan-African AXIAN Group to help it further roll out its offering.
WiASSUR aggregates various types of insurance offerings via its digital platform, allowing users to compare products and prices easily and transparently, and get insured in just minutes.
It has now sold a stake in its business to AXIAN Group, which invests through its subsidiary AXIAN Investment. A pan-African group present in 15 countries and specialised in five high-growth potential business sectors, including financial services, AXIAN becomes the second largest shareholder in WiASSUR and will assume a governance role.
“WiASSUR shares AXIAN Group’s vision, which places positive impact at the heart of its DNA. We firmly believe that development and well-being is achieveable through risk pooling, a key mechanism that insurance perfectly embodies,” said Teva Fontaine, CEO of WIASSUR.
“By promoting accessible and tailored insurance solutions, we aim to contribute to a more stable and secure future for individuals and businesses, thereby enabling sustainable and inclusive growth.”
The share acquisition marks a key milestone for AXIAN Group’s expansion strategy in the sector, the company said.
“AXIAN Investment enables us to invest strategically in companies to create value while supporting economic development in Africa. This equity investment in WiASSUR demonstrates our continued support for innovative initiatives in response to major challenges across the continent, while strengthening our presence in the insurance sector. We have great ambitions in this fast-growing sector,” said Hassane Muhieddine, CEO of AXIAN Financial Services.
