# Lami Technologies

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/lami-technologies

- Industry: Insurance
- Headquarters: Nairobi, Kenya
- Website: www.lami.world
- Total disclosed funding: $5.5M
- Latest round: Seed (Aug 2, 2022)
- Investors on record: 9

## About

Lami Technologies Limited is a digital insurance platform that enhances the efficiency of insurance processes for agents and brokers, enabling seamless client onboarding and real-time policy management.Lami Technologies Limited, founded in 2018 in Nairobi, Kenya, operates as a digital insurance platform designed to assist insurance agents and brokers. The company successfully raised USD 3.7 mn in SEED funding led by Harlem Capital Partners on August 2, 2022, with additional investment from Newtown Partners. As of now, Lami has completed a total of 3 deals, with the latest funding bringing its total amount raised to USD 3.7 mn. The CEO and co-founder, Jihan Abass, has previously been involved in ventures that focus on technology and innovation in insurance.Lami operates as an end-to-end digital insurance platform primarily designed for insurance agents and brokers, facilitating the digitization of their insurance processes. The core offerings include a comprehensive application that allows agents to onboard clients seamlessly, compare quotes from over 30 insurance companies, and manage policies, payments, renewals, and claims in real time. By leveraging a user-friendly interface, Lami aims to enhance the sales experience for agents by providing access to a diverse range of insurance products, such as auto, health, life, and personal accident insurance. The platform is tailored to meet the needs of various client segments, including individual consumers and small businesses across multiple geographical markets, enabling them to secure essential coverage while simplifying the purchasing process.Lami's revenue model is structured around transactional fees associated with the insurance products facilitated through its platform. Agents earn commissions that are paid out daily upon completing sales, which incentivizes engagement and productivity within the agent network. The platform supports B2B transactions by connecting agents directly with leading underwriters, allowing them to offer personalized insurance solutions to their clients. Revenue generation is further reinforced through the ability of agents to sell a wide array of insurance products, catering to both individual consumers and businesses seeking tailored insurance coverage. The emphasis on immediate commission payouts and streamlined processes aims to enhance agent satisfaction and retention, directly contributing to Lami's revenue growth.In August 2022, Lami Technologies Limited raised USD 3.7 mn in SEED funding, which will be utilized for business, product, and technology development. The company plans to expand its operations into new markets, specifically targeting Egypt, Nigeria, and Uganda. The growth strategy includes the development of new insurance products to enhance its service offerings and meet the evolving needs of clients.

## Funding rounds

- Seed, Aug 2, 2022, $3.7M — Newtown Partners, Harlem Capital Partners
- Seed, May 5, 2021, $1.8M — Acuity Ventures, Accion, Consonance Capital, AAIC Holdings, P1 Ventures, Future Africa, The Continent Venture Partners

## Investors

- Acuity Ventures (https://capitalatlas.ai/funds/acuity-ventures) — Seed
- Accion (https://capitalatlas.ai/funds/accion) — Seed
- Consonance Capital (https://capitalatlas.ai/funds/consonance-capital) — Seed
- AAIC Holdings — Seed
- P1 Ventures (https://capitalatlas.ai/funds/p1-ventures) — Seed
- Future Africa — Seed
- The Continent Venture Partners (https://capitalatlas.ai/funds/the-continent-venture-partners) — Seed
- Newtown Partners (https://capitalatlas.ai/funds/newtown-partners) — Seed
- Harlem Capital Partners (https://capitalatlas.ai/funds/harlem-capital-partners) — Seed