Leadway Assurance
121/123 Funso Williams Avenue, Iponri Surulere, Lagos, Nigeria
Overview
Leadway Assurance Company Limited was founded in 1970. Sir (Dr.) Hassan O. Odukale, (KJW, D.Sc., FCIIN).It has a chequered history of being a company with close attention to relationships, having started operations as a direct motor insurance company. Soon the relationship developed to a stage where it has established a deep relationship with the brokers’ network in Nigeria, enjoying 80% of its current business from this source. The pivotal point at Leadway is “the customer” and the company has enjoyed a steady growth in its commitment to providing integrated insurance and financial services to its numerous customers.
- Total investments
- 1
- Lead investments
- 1
- Investments · 12mo
- 0
- Active investors
- 3
Sector focus
- Auto Insurance
- Financial Services
- Insurance
Investment portfolio
- Sparkle
Led · Seed · Oct 2021
Sparkle is a Nigerian neobank that combines personal banking, business banking and lifestyle services on a single platform. The app offers savings, bill payments, top-ups, transfers, bill splitting, spending breakdowns and features like transaction-by-beneficiary history, location confirmation and scheduled payments. In April Sparkle launched Sparkle Business to serve SMBs with inventory and invoice management, tax advice, payroll and employee management accessible with just a TIN and email. Since launching last year Sparkle has acquired over 40,000 individual customers and 2,000 businesses, and it operates under a microfinance bank license. The company has partnerships with Visa, Network International and PwC Nigeria. Sparkle has begun charging individual customers small account fees and plans to charge businesses for most features while keeping taxation services free. Future plans include building robotic process automation and hiring across engineering, finance, risk and marketing.