Turaco
Founded
2019 in Nairobi, Kenya — Turaco was created to transform the insurance landscape in Africa by providing simple, affordable, and accessible insurance products for underserved and low‑income populations via embedded technology and partnerships with tech‑enabled platforms.
Founders & Leadership
Ted Pantone — Co‑Founder & CEO (insurtech leader focused on inclusive insurance).
Peter Gross — Co‑Founder (business and strategy leadership).
Additional senior leadership includes Martin Githaiga (Head of People), Rachel Levenson (Chief Commercial Officer), Frank Mweu (CFO), and Niraj Varia (COO).
Turaco Insurance
Location
Nairobi, Kenya — with licensed operations and entities across Uganda, Nigeria, Ghana, and Zambia, supported by a U.S. corporate presence in Wilmington, Delaware (Turaco Inc.).
Industry
InsurTech / Microinsurance / FinTech — focused on embedded, tech‑driven insurance solutions for emerging markets, designed for mass‑market adoption via B2B2C and API‑enabled partnerships.
Funding Stage
Series A (Growth Stage) — Turaco raised a $10 million Series A round in 2022, led by AfricInvest’s Cathay Africinvest Innovation Fund with participation from Novastar Ventures, Enza Capital, Global Partnerships, Zephyr Acorn, Operator Stack, Asi Ventures, and Push Ventures. Prior to this, Turaco secured a $2 million Series Seed investment to fuel early product and market development.
Overview
Turaco is an African insurtech company building embedded insurance products that reach previously uninsured individuals by partnering with major tech platforms, fintechs, and mobile networks. Its technology enables affordable health, life, asset, and vehicle insurance products that integrate seamlessly into partners’ offerings and existing payment flows, removing barriers to traditional insurance uptake. Turaco’s vision is to insure one billion people globally by leveraging scalable digital distribution and localized microinsurance models.
Core Features & Capabilities
Embedded Insurance Integration: API‑enabled insurance that integrates with partners like M‑KOPA, allowing customers to access coverage without friction.
Microinsurance Products: Simple, affordable insurance packages (health, life, asset) priced for mass‑market customers.
Rapid Claims Processing: Streamlined, tech‑enabled claims processes with fast turnaround (e.g., ~3 days via WhatsApp or phone submissions).
Partnership Network: Collaborates with banks, fintechs, MNOs, and pay‑go platforms to expand insurance reach.
Underwriting & Licensing: Licensed as a microinsurance underwriter in Kenya and Uganda, with expanded presence in multiple African markets.
Target Market
Underserved & Low‑Income Consumers looking for affordable, flexible insurance coverage in Africa.
Tech‑Enabled Platforms & Fintech Partners seeking to embed insurance into their products to increase value and retention.
Mobile Network Operators & Financial Institutions interested in expanding financial services for customers.
Value Proposition
Turaco democratises insurance access by embedding affordable, tech‑driven insurance products into platforms that already serve millions of Africans — enabling seamless access without requiring traditional sales channels or extensive paperwork. This approach dramatically increases uptake among previously uninsured populations while offering partners enhanced engagement and value‑added services.