Pineapple, South Africa’s peer-to-peer insurance company, today announced that it has been accepted into Google’s Launchpad accelerator.
There have been eight batches of start-ups accepted into the accelerator over the past three years. This includes start-ups from tech hubs such as Singapore, Tel Aviv, and Kenya as well as economic powerhouses such as India, Russia, and Brazil.
Google’s Launchpad regional accelerators are tailored specifically to their local markets, and provide access to the best of Google – its people, network, and advanced technologies – helping start-ups build great products. The Launchpad Accelerator Africa programme is aimed at early-stage African start-ups and operates out of Lagos, Nigeria. To be eligible for the programme, the start-ups must be based in Sub-Saharan Africa, have already raised seed funding and be targeting the Africa market.
Pineapple is the first ever Insurance startup accepted into Google’s accelerator. A significant achievement if you consider that there has been $5.6 billion invested in insure-tech in the last three years alone.
Being accepted into the accelerator means that the Pineapple team will receive equity-free funding as well as support from Google engineers to help them improve their offering. It will also give them access to Google’s global network.
“We are very excited to see how we can leverage this to improve our AI and marketing capabilities,” stated Matthew Smith, c0-founder of Pineapple.
Pineapple is a company that is run by a group of 20-something-year-old South Africans. Earlier in the month, they launched the world’s first decentralised insurance offering. Another great innovation is that they allow members to insure their things in the snap of a picture – two noteworthy milestones in the race to bring insurance into the 21st century.
“We are extremely humbled to have even been considered. We would not have expected this when we set off on this journey two years ago,” said Ndabenhle Junior Ngulube, c0-founder of Pineapple.
The Pineapple team will start the journey with a trip to Lagos to explore potential expansion into Africa as well as have a look at Google’s African hub.