1st October 2023
Root Platform (Root), the low-code, API-first, end-to-end insurance technology platform provider, has announced that South Africa-based Invenfin, the venture and growth capital arm of Remgro Limited, has made a further investment of $1.5m in the company.
Root, which was founded in 2016 in South Africa, offers a low-code platform that powers modern digital insurance products designed for direct, affinity and embedded distribution at scale.
The company first raised an external round of funding from investors including Invenfin in 2021, and will now accelerate its plans to expand in the UK and Europe thanks to this further investment. Investment figures in the previous round are undisclosed.