Rootplatform

Rootplatform

Rapidly launch new products and open digital distribution channels to drive growth in your insurance business.

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DateInvestorsAmountRound
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N/A

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Total Funding000k

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Revenues, earnings & profits over time
USD2022
Revenues0000
EBITDA0000
Profit0000
EV0000
EV / revenue00.0x
EV / EBITDA00.0x
R&D budget0000

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More about Rootplatform
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Rootplatform operates as a B2B infrastructure provider for the digital insurance economy, offering an API-first, low-code platform for building, selling, and managing insurance products. Founded in Cape Town, South Africa, in June 2016 by Louw Hopley and Malan Joubert, the company was established to simplify the complexities of the insurance industry. Louw Hopley, an engineer by background, co-founded the company with the vision of making it easier for developers and businesses to create financial services products by providing the essential building blocks for insurance.

The company targets insurers, large consumer-facing brands, and affinity players, enabling them to embed insurance offerings into their existing value propositions. Clients include prominent names like Mr Price Money, Telkom, Metropolitan, and FinChoice. Rootplatform's business model is centered on its Software-as-a-Service (SaaS) platform, where revenue is generated based on the specific modules and add-ons clients utilize. The platform is designed to either manage the entire insurance value chain or integrate with clients' existing legacy systems for a phased digital transformation. This modular approach covers the full policy lifecycle, from quoting and binding to policy administration, collections, and claims.

The core of Rootplatform's offering is its end-to-end insurance operating system, which handles the complex regulatory, compliance, and reporting aspects, allowing clients to focus on customer experience. A key feature is the 'Product Workbench,' a low-code environment that empowers teams to design, build, and iterate on programmable, API-ready insurance products without deep technical dependencies. The platform supports a variety of insurance types through pre-configured templates, including motor, pet, travel, device, and commercial insurance. It also facilitates omnichannel distribution, allowing for the deployment of products across digital, embedded, and direct-to-customer channels with a few lines of code. To support its ecosystem, Rootplatform has launched a Certified Developer Community program to upskill developers in using its advanced insurtech solutions.

Since its inception, the company has achieved significant milestones, including launching its platform in April 2018, closing a $3 million seed funding round in November 2021, and expanding into the UK market in September 2022. A subsequent investment of $1.5 million from Invenfin in December 2023 was secured to accelerate this international expansion. The company now operates with teams in both Cape Town and London.

Keywords: insurtech, insurance API, embedded insurance, digital insurance platform, low-code insurance, policy administration system, financial services infrastructure, SaaS, insurance technology, affinity insurance, claims management, regulatory compliance, digital transformation, B2B insurance, core insurance systems, API-first, policy lifecycle management, insurance product development, fintech, Cape Town startup, UK insurtech

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