Brolly, a Ghanaian insurtech company, specializing in affordable car insurance, has been selected for the Summer 2023 cohort of the world-renowned Techstars accelerator in Tulsa, Oklahoma, USA.
As part of the accelerator package, Brolly would receive equity investment and be connected to a global network of mentors as well as resources to help the company grow.
The company would also gain access to Techstars’ network of potential investors, especially as they look to raise a round of funding to power growth in Ghana and expansion to Nigeria.
A release issued by Techstars Tulsa in USA to the Ghana News Agency in Accra, stated that through the startup, which offers flexible payments for car insurance coverage, Brolly joins 11 other startups selected for this year’s Techstars Tulsa accelerator from over 300 high-quality applicants.
It explained that Brolly makes auto insurance affordable in Africa through flexible payment options and usage-based pricing while Techstars Tulsa is a worldwide network that helps entrepreneurs succeed.
“Founded in 2006, Techstars entrepreneurs create a better future for everyone, collaboration drives innovation, and great ideas can come from anywhere.
“The mission of Techstars is to enable every person on the planet to contribute to and benefit from the success of entrepreneurs.”
According to the release, in addition to operating accelerator programmes and venture capital funds, Techstars connects startups, investors, corporations, and cities to help build thriving startup communities.
“Techstars has invested in more than 2,200 companies that today have a combined market cap valuation of over $29 billion.”
Since soft-launching in Ghana, Brolly on the other hand had recorded an average customer growth rate of 73 percent month-on-month with no marketing spend.
“With their version two software ready to launch, Brolly is confident that their artificial intelligence capabilities will enable swifter service delivery and efficient customer support informed by data.
Among the clientele of Brolly are “Online drivers” (partner drivers of Uber, Bolt, Yango, Feenix, Shaxi) and taxi drivers in Ghana.