Brolly, a Ghanaian insurtech firm, has been accepted into the prestigious Techstars accelerator program, joining 11 other startups from over 300 applicants. The firm, which offers affordable car insurance through flexible payment options and usage-based pricing, will receive equity investment and global mentoring connections to aid its expansion to Nigeria as well as growth in Ghana. Brolly’s participation in the Techstars program will also grant access to potential investors as the firm looks to raise funding for expansion.
Techstars is a worldwide network that assists entrepreneurs in creating a better future for everyone. They enable startups, investors, corporations, and cities to create thriving startup communities. The network has invested in over 2,200 companies with a total market cap of over $29 billion. In addition to operating accelerator programs and venture capital funds, Techstars connects startups and investors to build thriving startup communities.
Brolly has seen an average monthly customer growth rate of 73% since soft-launching in Ghana, with no marketing spend. With version two software ready to launch, the firm is confident that its artificial intelligence capabilities will enable swift service delivery and efficient customer support informed by data. Among the firm’s clients are “Online drivers” (partner drivers of Uber, Bolt, Yango, Feenix, Shaxi) and taxi drivers in Ghana.
All in all, Brolly’s acceptance into the Techstars accelerator program provides the firm with significant opportunities for growth and expansion. The program will enable the firm to receive valuable mentoring connections and equity investment as well as grant access to potential investors. The firm’s artificial intelligence capabilities, combined with its flexible payment options and usage-based pricing, make it a promising insurtech player in Africa.