Octamile Inc. Asset Profile

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Year established

2021

Location

Lagos Nigeria

Primary Industry

Insurance

About

Founded in 2021 by CEO Gbenro Dara and based in Lagos, Nigeria, Octamile Inc. operates as an insure Tech company that connects insurers and non-insurance businesses to access insurance products for protection against financial loss. In December 2021, Octamile Inc. raised USD 500,000 in venture funding led by EchoVC Partners, with participation from Fiat Growth, Kesho Capital, Trade X Corporation, and Verraki Partners. The Octamile solution allows non-insurance companies to include insurance as a feature in their pre-existing products, while insurance companies get the data and technology they need to improve customer experience, cut administrative costs, and increase the profitability of their insurance portfolio. The products developed by the company include automated claims, vehicle history and valuation, embedded insurance. The company plans to work closely with the partners, which include AXAMansard, and FirstBank, and onboard new insurers and startups on the waitlist.

Current Investors

EchoVC Partners, Fiat Ventures, Trade X Corporation

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Primary Industry

Insurance

Sub Industries

Commercial Insurance, Claims Administration & Processing

Website

www.octamile.com

Verticals

InsureTech

Company Stage

Early Stage

Total Amount Raised

Subscriber access only

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