Open Capital advises Turaco on a $10M Series A raise

Open Capital is proud to have advised Turaco on its recent $10M Series A raise. Turaco has insured >200,000 under-served Africans with simple, ultra-affordable coverage, with a plan to reach 100 million in Africa and a path to 1 billion globally.  In Sub-Saharan Africa, less than 2% of the population is insured and millions of Africans are pushed into poverty because of unexpected healthcare costs. Turaco seeks to change this using a tech-based, innovative platform. 

Open Capital’s team advised Turaco on the transaction, with partial support from USAID’s Kenya Investment Mechanism program. Turaco’s Series A was led by AfricInvest, through its Cathay Africinvest Innovation Fund (CAIF), and Novastar Ventures. Enza Capital, Global Partnerships, Zephyr Acorn, Operator Stack, Asi Ventures Limited and Push Ventures also contributed. 

Open Capital’s Capital Markets team has advised on >$1B of transactions across 25 countries in Africa, supporting innovative businesses that can change the game for under-served Africans and advance African economies. 

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