Naspers Foundry backs Ctrl
Naspers, through its early-stage business funding initiative Naspers Foundry, announced a $2.3 million investment in Ctrl , a software-as-a-service platform that connects insurers, brokers, and consumers in a user-friendly way.
Founded in 2017, Ctrl is “South Africa’s first independent digital short-term insurance advisor”. The company’s platform enables brokers to provide insurance advice digitally and allows underserved consumers to easily compare multiple quotes, obtain advice, accept cover and manage their policies. According to the company’s website, insurers such as Old Mutual, King Price Insurance, Absa, and Santam are partners.
“Ctrl is a great example of how innovations in technology can improve upon traditional business models that we use in our everyday lives. Our investment in Ctrl reflects the importance of the work Naspers Foundry is doing in South Africa. We seek to partner with phenomenal local entrepreneurs so that together, we can build technology-led companies that help to make people’s everyday lives better.” – Phuthi Mahanyele-Dabengwa, South Africa CEO of Naspers.
“Ctrl has created a smart digital platform that unlocks consumer choice and competitive pricing in a previously underserved market. Everyone at Naspers Foundry is thrilled to make our first insurtech investment, and we look forward to working with the talented team at Ctrl as their business reaches new heights.” – Fabian Whate, head of Naspers Foundry.
“We are ecstatic about Naspers Foundry’s investment, given their vast experience in growing tech start-ups. We believe we are now in the best position to grow our business, and we are excited about Ctrl’s future as we transform the insurance industry.” – Pieter Venter, CEO and co-founder of Ctrl.