OKO Secures Six-Digit Funding to Expand Climate Insurance for African Farmers
OKO, an innovative ClimateTech and AgriTech company focused on delivering climate insurance solutions to agricultural value chains across Africa, has successfully closed a six-figure funding round. The investment was spearheaded by Catalyst Fund, with significant contributions from two existing investors, signaling strong confidence in OKO’s mission and potential.
# Fueling Growth and Resilience
This new capital injection will enable OKO to significantly accelerate its commercial expansion. Already operational in multiple African countries through partnerships with financial institutions and agro-industries, the funding will further solidify these collaborations and drive the company’s overarching goal of building economic resilience for millions of African farmers who are disproportionately affected by climate-related shocks. The announcement follows OKO’s recent selection into the prestigious Visa Africa Fintech Accelerator Program, recognizing its impactful work in the fintech space. Operating in Côte d’Ivoire, Mali, Uganda, Mozambique and Angola, OKO has already provided insurance coverage to over 33,000 farmers and processed all legitimate claim payments, a testament to its commitment to building trust and reliability within the agricultural community. The company plans to leverage the funding to deepen existing partnerships with financial institutions, agritech firms, and agro-industries, integrating automated processes to streamline its operations.
OKO’s success in securing this funding highlights the growing importance of climate-smart solutions for the African agricultural sector. By providing accessible and reliable climate insurance, OKO is empowering farmers to mitigate risks, improve yields, and build more sustainable livelihoods in the face of increasing climate uncertainty.
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