Participated · Seed · Nov 2021

Root offers insurance APIs and a low-code digital insurance platform that sit on top of insurers so businesses and developers can build, integrate and launch insurance products into websites, chatbots and mobile apps. The company began with programmable bank accounts and cards but has since made insurance APIs its core offering. Root primarily targets non-insurance companies (telcos, retailers and banks) and affinity insurance players; clients include Mr Price Money, FinChoice, Telkom, Metropolitan, Sanlam and Guardrisk. Its platform has processed millions of policies and thousands of claims each month. Root generates revenue via subscription licensing fees priced by client size and complexity, and it also handles compliance and customer reach channels for its customers. With the new funding, Root plans to roll out its flexible low-code platform into other markets, particularly Europe, while keeping a large part of its team in South Africa.

Participated · Series A · Nov 2021

Notabene runs what it describes as the largest open network for regulated on-chain transactions, combining Travel Rule compliance with pre-transaction verification and authorization capabilities. Its B2B product, Notabene Flow, extends the network into stablecoin payment use cases such as pull payments, recurring payments, and automated invoicing. The network spans more than 2,300 connected institutions across 100+ jurisdictions, serves 280+ customers including tier-1 banks, custodians, fintechs, and exchanges, and has facilitated over $2 trillion in annualized transaction volume. Notabene is partnering with Ripple to integrate RLUSD and accelerate enterprise adoption of compliant stablecoin payments. The company plans to use strategic partnerships and Ripple's enterprise ecosystem to scale Notabene Flow and onboard additional institutions. Notabene was founded in 2020 and is headquartered in New York.