Bamboo secures $15 million in Series A funding to expand across the African market

May 18, 2024•about 1 year ago

Amount Raised

$15 Million

Round Type

series a

MidvaleInsurance

Investors

Michael SeibelChrysalis CapitalMotley Fool VentureTiger GlobalGreycroft

Description

Bamboo, a Nigerian brokerage app, has raised a $15 million Series A funding round led by Greycroft and Tiger Global, with participation from Motley Fool Venture, Chrysalis Capital, and Y-Combinator’s Michael Seibel, among others. The funding will support the company's expansion into new markets, the launch of additional products, and the development of its tech infrastructure.

Company Information

Company

Bamboo

Location

Midvale, Utah, United States

About

After successfully refining our underwriting model and distribution capabilities over the past 3 years in the California market, Bamboo will now embark on a product and geographic expansion plan while remaining true to our profitable underwriting philosophy." Bamboo was founded in 2018 with a focus on serving the California property market with homeowners, dwelling fire and other ancillary products. Today, Bamboo has over 75,000 policyholders and $105 million of managed premiums. Bamboo is committed to leveraging technology and data to meet the evolving needs of customers, and ultimately transform the insurance industry by making it simple, transparent and customer focused. Bamboo has demonstrated strong growth coupled with profitable underwriting that will ultimately differentiate InsurTech winners." About Bamboo Ide8 Insurance Services, LLCBamboo is a reimagined insurance company offering flexible and transparent insurance options through its managing general underwriter, retail agency and captive insurer.

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