Casava raises $4 million

Casava, the insurance startup heavily influenced by Lemonade, has raised $4 million in a pre-seed round. Berlin-based Target Global led the round, with foreign VCs and angel investors such as Entrée Capital, Oliver Jung, co-founder of Monzo Tom Blomfield, and co-founders of Stash Ed Robinson and Brandon Krieg participating.

Founded in 2016, Casava’s original claim to fame was P2P insurance. Today, the startup, which operates in Nigeria, offers a digital experience that includes getting covered in 60 seconds and “instant claims” that can take anywhere between one hour and 48 hours.

Casava claims to be Nigeria’s first general and life microinsurance company licensed by the National Insurance Commission. It offers income protection and health insurance products.