# PaddyCover: Insurance, Lagos, Nigeria

> PaddyCover: PaddyCover is a Nigerian insurtech startup founded in 2018, based in Lagos. Based in Lagos, Nigeria. Founded 2019.

Source: https://millionrounds.com/startup/paddycover (Millionrounds; every figure on the page links to its filing or article)

Nigeria · [Insurance startup](https://millionrounds.com/companies)

# PaddyCover

PaddyCover is a Nigerian insurtech startup founded in 2018, based in Lagos.

Funding reported Last round: Seed

Insurance Lagos, Nigeria

Company summary

- **Founded:** 2019 7 years old
- **Team:** 7 1 to 10 people
- **Funding reported:** 200k as listed, currency not stated
- **Last round:** Seed Jan 2023

How sure we are

- ✓ **Listed** We know it exists and what it does
- 2 **Funding reported** A company dataset reports a raise
- 3 **Observed** A filing or a dated announcement confirms a round

No round for PaddyCover has been confirmed by a filing or an announcement yet, so nothing here counts toward an investor's record. [How we decide](https://millionrounds.com/methodology)

## About PaddyCover

PaddyCover is a Nigerian insurtech startup founded in 2018, based in Lagos.

The company focuses on providing affordable pay-as-you-go (PAYG) insurance solutions across Nigeria and Africa. By partnering with established insurers, underwriters, and brokers, PaddyCover aims to increase insurance accessibility in underserved markets. The company offers a range of insurance products, including health, life, auto, home, motorcycle, and personal accident policies. Its insurer-agnostic platform allows for the creation of customized policies, and it features an agent financing platform that supports brokers and agents in selling and financing premiums. PaddyCover's innovative approach includes flexible payment options, making insurance more affordable for lower-income users. With over 12,000 active policies and a focus on organic growth through agent networks, PaddyCover is committed to enhancing insurance penetration in Nigeria.

## What company datasets say PaddyCover raised

Funding, as reported

Reported in all **200k** in the source's currency

Rounds **1**

Last round **Seed**

Last round size **200k**

Last round date **Jan 2023**

Investors listed **1**

## The company, in detail

What they build

Built with from their website

Viewport Meta Caddy Google Font API Mobile Friendly Go Digital Ocean DNS DigitalOcean Droplets HTTP/3 DigitalOcean Google Search Console

+2 more

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- **Sector:** Insurance
- **Industry code:** NAICS 524210, 541512, SIC 6411, 7371
- **Region:** Lagos
- **Revenue:** 600k a year, as listed
- **Full record:** [Every detail in the company directory](https://millionrounds.com/directory/paddycover)

## Insurance in Nigeria

Startups like it

- [**Casava** Lagos · founded 2019](https://millionrounds.com/startup/casava)
- [**MyCoverai (Techstars '22)** Lekki · founded 2021](https://millionrounds.com/startup/mycoverai-techstars-22)
- [**Evolutics Technology Services Limited** founded 2021](https://millionrounds.com/startup/evolutics-technology-services-limited)
- [**Haba InsurTech** Ikeja · founded 2022](https://millionrounds.com/startup/haba-insurtech)
- [**Cornerstone Insurance Plc** Lagos · founded 1991](https://millionrounds.com/startup/cornerstone-insurance-plc)
- [**Insurpass** Lagos · founded 2021](https://millionrounds.com/startup/insurpass-2)

## Is this your company?

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