Insurpass and insurance plans, Remix for public videos, Chari’s $100m bridge

by | Jan 21, 2022

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Hello there.

Today, I’m discussing:

  • How Insurpass is helping Nigerians adopt insurance plans
  • Instagram’s Remix for public videos
  • Chari’s funding worth $100m valuation

Insurpass wants to help you adopt an insurance plan 

Insurpass Team
L – R, Tobi Odejinmi (Co-founder/CTO), Lorretta Okoli, Seun Ayegbusi(Co-founder/CEO), Gloria Agboifoh (Head of Business Development & Partnership) Source: Supplied

Nigeria was 187th of 191 countries on the World Health Organization (WHO) health system ranking about 20 years ago. However, in 2021, it was ranked 163rd out of 191.

While this indicates a slow improvement in the country’s health system, only over 10 million out of a growing population of 200 million Nigerians are currently covered by health insurance. This is done through various programmes by the National Health Insurance Scheme (NHIS), state health insurance agencies, and private plans run by Health Maintenance Organisations (HMOs).

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What does this mean? Despite the fact that some Nigerians are more health conscious — particularly as a result of technological advancement — over 170 million people do not have a health insurance plan.

Despite the various insurance companies available, due to poverty and ignorance, few Nigerians have insurance coverage for their homes, cars, lives, and other aspects of their lives.

Insurpass, an API solution insurtech startup, wants to assist Nigerians in getting insurance.

Oluwanifemi Kolawole spoke with the co-founders, who explained how the company plans to increase insurance adoption in the country.

Please, read it here: With its API infrastructure and agent network, Insurpass wants to increase insurance adoption in Nigeria

Instagram’s Remix for public content

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Instagram announced yesterday, Thursday, January 20, 2022, that users will be able to remix any public video content on the app, not just short-form reel videos.

What exactly does this indicate? Any public video on Instagram is fair game for a remix. Also, it only applies to videos that were made public as of yesterday and not to content created prior to the day it was announced.

What is the purpose of this launch? The company stated that the expansion made sense after seeing how well Remix has been received by Reels users. It wanted to provide more opportunities for creators to “reinvent their content” and collaborate with others. 

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When remixing a non-Reels video, creators will still have access to Reels’ set of creative tools, such as Collabs, Voiceover, Effects, and Audio Tools.

How can you use this feature? Users can access the new feature by tapping the three-dot menu in the upper-right corner of any public Instagram video published after the update goes live. Then, select “Remix this video” and record your response or upload a video from your phone’s camera roll. 

Creator’s can remix all or a portion of another person’s video and download it as part of the remix. The final remixed video will be visible wherever you share your reels.

Is this something you’ve seen before? Yes, it’s similar to YouTube Shorts which allows creators to sample audio from other people’s videos for use on their own. 

Chari’s bridge round at $100 million valuation

Moroccan chari
Source: Supplied

Chari, a Moroccan B2B e-commerce and retail startup, has raised a bridge round at a $100 million valuation.

The round saw participation from Khwarizmi Ventures, Air Angels, Y Combinator, Rocket Internet, Global Founders Capital, Plug n Play, Orange Ventures, Harvard University Management Company, Village Capital and P1 Ventures, and Afri Mobility — the venture capital arm of the AKWA Group.

Founded by Ismael Belkhayat (CEO) and Sophia Alj (co-founder) in 2020, Chari is a mobile app that enables small retailers in Morocco and Tunisia to order products from  FMCG multinationals and local manufacturers, receiving them in less than 24 hours. 

Interestingly, a Moroccan ledger book, Karny.ma, was acquired by the company in 2021. The platform offers credit and bookkeeping services to approximately 50,000 merchants. It enables these merchants to manage the credit they extend to their customers. 

The acquisition of Karny and the bridge round are part of Chari’s strategy to provide payment facilities. The company claims the strategy puts them in a good position to offer financial services to their retailers, particularly buy now, pay later (BNPL)

According to the CEO, the company plans to test the BNPL services with its existing customers using the funds from the bridge round. 

More so, if the results are positive, Chari will acquire a local credit company to allow shop owners to lend money to their end-users and grow their business. It also plans to expand this BNPL service to Tunisia and other French-speaking countries in Africa.

In case you missed it

What I’m reading and watching

  • What it really means to live your best life. Read.
  • You are STRONG — Inspiring Speech On Depression and Mental Health. Watch.
  •  Life Lessons From 100-Year-Olds. Watch

Opportunities

  • Techpoint Build is tomorrow! Register for Techpoint Build 2021 here
  • Applications are now open for the Circular Economy Accelerator incubator. You can apply here.
  • Cowrywise is recruiting! Check out these roles.
  • Reliance HMO is looking for a Content Creator. You can apply here.
  • Genesys Health is currently hiring for the roles of Sales Associate, Software Engineer, and Junior Software. Apply here.
  • If you’re a fresh graduate and have a flair for tech, join the Guaranty Trust Holding Company Tech Academy. Join here.

Have an amazing weekend ahead.

Victoria Fakiya for Techpoint Africa.

Victoria Fakiya
Victoria Fakiya

A writer with ADHD who is interested in mental health and how technology is improving the lives of Africans with mental disorders.


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