The pan-African AXIAN Group has invested in Ivorian insurtech startup WiASSUR to support the company’s continued product rollout.
WiASSUR uses its digital platform to compile offers from different insurance companies, making it simple and transparent for users to compare plans and costs and obtain insurance in a matter of minutes.
AXIAN Group, which makes investments through its subsidiary AXIAN Investment, has now purchased a portion of its company. As the second-largest shareholder in WiASSUR and a potential guarantor of five high-growth business sectors, including financial services, AXIAN is a pan-African conglomerate with operations in fifteen countries.
“WiASSUR shares AXIAN Group’s vision, which places positive impact at the heart of its DNA. We firmly believe that development and well-being is achieveable through risk pooling, a key mechanism that insurance perfectly embodies,” said Teva Fontaine, CEO of WIASSUR.
“By promoting accessible and tailored insurance solutions, we aim to contribute to a more stable and secure future for individuals and businesses, thereby enabling sustainable and inclusive growth.”
According to the company, the acquisition of shares represents a significant turning point in AXIAN Group’s strategy for sector expansion.
“AXIAN Investment enables us to invest strategically in companies to create value while supporting economic development in Africa. This equity investment in WiASSUR demonstrates our continued support for innovative initiatives in response to major challenges across the continent, while strengthening our presence in the insurance sector. We have great ambitions in this fast-growing sector,” said Hassane Muhieddine, CEO of AXIAN Financial Services.
