Etap is a Nigerian insurtech that streamlines motor insurance purchases and claims, enabling customers to buy policies in 90 seconds and complete claims in three minutes. The company launched a beta app in November last year offering flexible policies—per trip, daily, monthly or yearly—and behavioral pricing with gamification so customers earn and redeem points. Etap’s end-to-end services include image-based pre-loss inspections and post-accident reviews, and the app uses geolocation tags, timestamps and crash notifications to reduce fraud. Founder and CEO Ibraheem Babalola built the product to simplify manual, agent-driven processes and to improve user experience, flexibility and transparency. The startup received $1.5 million in pre-seed funding and is on an expansion drive across Nigeria with plans to scale across Africa. Tangerine Insurance is Etap’s underwriter, and the company tailors prices according to driver behavior to profile risk and reward safer drivers.

Total raised

$2M

Funding rounds

1

Latest round

Seed

Latest activity

Apr 2022