South Africa-based insurance software solutions provider, Genasys, has received $16m from leading software scale-up investor, Frog Capital.
The investment will see Frog take a significant stake in the business, with the Genasys management team retaining operational control.
Genasys’ dynamic SaaS platform provides end-to-end policy administration and claims solutions for insurance businesses.
With over 350 pre-configured products ranging from P&C, life, medical and specialty and hundreds of API end points enabling hyper-configurability across the insurance ecosystem, Genasys said it is helping its customers bring about innovation and quickly deliver new products to their rapidly evolving consumer base.
The company will use the investment to fuel its growth, including the expansion of its centre of technology excellence, which the company said will support the business as it expands its global footprint.
Craig Oliver, Genasys joint CEO, said, “Our centre of technology excellence is the crown-jewel of our delivery. We want to lean on the innovative and technically advanced pool of talent that is emerging from the entrepreneurial spirit in South Africa to build a truly world-class insurance platform and deliver even better services and products to help our clients provide insurance solutions that make a real difference to their clients.”
Copyright © 2021 FinTech Global
