Pineapple is an insurtech startup that offers a peer-to-peer insurance platform and connects people with similar interests and coverage needs, fostering a sense of community and trust. Through their mobile app, users can easily see how their premiums are calculated, what risks are covered, and even participate in the claims assessment process. This level of transparency promotes trust and empowers users to actively engage with their insurance coverage.
Pineapple has raised $21.3 million in a Series B round led by Futuregrowth, Talent10, and MIC, with participation from Old Mutual ESD, Lireas Holdings, ASISA ESD Fund, and E4E Africa. In total, Pineapple has raised about $29.1 million till that moment. According to Amrish Narrandes, head of Futuregrowth Asset Management’s Private Equity/Venture Capital, “Pineapple’s exceptional growth and customer-centric model exemplify a potent combination of technology and market understanding. With our investment, we are thrilled to spearhead this round, fuelling Pineapple’s journey in redefining the insurance landscape.”
Pineapple, Johannesburg, NA – South Africa, South Africa, was founded in 2017 by Marnus van Heerden, Matthew Elan Smith, and Ndabenhle Junior Ngulube. “This funding round stands as a testament to our tech and AI-powered operating model, enabling our mission to offer affordable and comprehensive insurance to all South Africans,” said Marnus van Heerden, Pineapple co-founder and CEO.
