SA insurance app wins R22.5m in US startup competition
DURBAN - South African insurance app Pineapple has won $R1.5 million (R22.5 million) at VentureClash, an American startup challenge.
The insurance provider won the single largest prize of the evening.
Pineapple was up against nine other finalists from all over the world. The ten finalists were selected from over 300 vetted applicants.
The app which was launched to the market in July 2018 was founded by Matthew Elan Smith, Ndabenhle Junior Ngulube and Marnus van Heerden. The app has offices in South Africa and the United States.
"We are extremely humbled by this award and to grateful to everyone who has helped us along the way. From the Hannover Re Group in SA, Compass Insure, ASISA ESD Fund managed by Edge Growth as well as the people of Connecticut who have received us with open arms. Especially the teams at StartupBootCamp, Travelers, CTi and Nassau Re to name a few,".said Smith.
Pineapple have developed an app that allows people to insure their things in the snap of a picture. Anything from mobile phones to bicycles. Pineapple will also be launching their motor insurance product in the next 6 months. People can download the insurance app from the app store or play store.
CTO of Pineapple Ndabenhle Ngulube said, "We are excited about what this means for the future of software development in South Africa. It shows that we can compete on a global stage and that there is a bright future for the South African technology industry".
BUSINESS REPORT ONLINE