Ctrl: Story, Founders, Investors & Funding Rounds
Ctrl was founded in 2017 by Pieter Erasmus, Pieter Venter, and Francois Venter.
Three friends, with long careers in the financial services and insurance industries, saw a way to improve the outdated insurance landscape by creating a smart software solution.
The awesome team at Ctrl is made up of specialists in the fields of technology, insurance advice as well as general team members.
They believe it’s the people and their passion for what they do,
that makes a company successful in the end.
Ctrl enables traditional insurance brokers to digitize and optimize their businesses and provides improved access to underserved consumers by improving convenience and control over their insurance.
Ctrl provides a unique tech solution to the short-term insurance industry and consumers through its single platform, which connects consumers, brokers, and insurers in one place.
The platform enables brokers to provide insurance advice digitally and allows underserved consumers to easily compare multiple quotes, obtain advice, accept cover, and manage their policies.
Ctrl offers consumer-facing businesses an opportunity to enter the insurance advice industry by providing insurance solutions to their existing clients, enabling them to generate an additional income stream.
The result is a service that gives consumers more convenience and more control over their own insurance needs and provides insurance advisors with a more effective way to service their clients, freeing up time to focus on their customers’ needs.
Their insurance advisors are qualified representatives, Fit and Proper, registered and authorized as determined by the FSCA.
They are standing by to answer all your car and household insurance questions with a smile.
They also realized early on in their development phase that the app would be ideal for the Deaf and Hard of Hearing communities, as well as people in remote areas who didn’t have regular access to a traditional broker.
Therefore, they collaborated with relevant parties to make sure they created a solution that would enable anyone to do their insurance without having to talk over the phone.
Ctrl has garnered numerous awards for its efforts to advance the insurance industry’s digital transformation.
MTN App of the Year: Best Financial Solution in 2018 and MTN App of the Year: Best Social Impact at the SA Startup Awards in 2019 are two examples.
By the end of 2018, Ctrl had Santam knocking on its door, and in 2021, it had gained the attention of one of the world’s biggest technology investors, Naspers.
Both signed on as minority shareholders, meaning Ctrl can retain its independence while reaping the benefits of this funding and endorsement, says Venter.
Ctrl was created as a digital insurance advisor. It enables consumers to compare real quotes from different insurance on a like-for-like basis and get immediate coverage in the app, without call centers or paperwork.
The idea is to put control in the hands of consumers by providing real quotes, backed by solid advice and an app to manage it all.
Ctrl was also chosen for the Endeavor and SA SME Fund Local Scale-Up program recently.
How it Works
Ctrl Financial Intermediaries (CFI)
Ctrl Financial Intermediaries (CFI) was launched in 2019 as South Africa’s first digital short-term insurance advisor.
The app was developed by CFI’s sister company, Ctrl Technologies, a software company that specializes in creating solutions for the insurance industry. Both form part of Ctrl Investment Holdings.
Through its one platform, which connects consumers, brokers, and insurers, the firm offers a unique software solution to the short-term insurance market and consumers.
It also allows underserved people to compare numerous prices, acquire advice, and maintain policies by allowing brokers to deliver insurance advice digitally.
Ctrl enables consumer-facing businesses to enter the insurance consulting sector by providing insurance solutions to their existing consumers, allowing them to earn more money.
As a result, customers have more control and convenience over their insurance needs.
Pieter Venter is the Co-Founder of Ctrl.
Pieter Venter attended the University of Cape Town.
Francois Venter is the Co-Founder at Ctrl.
Pieter Erasmus is the Co-Founder at Ctrl.
Investors & Funding Rounds
Naspers is boosting the South African insure-tech sector with an R34 million investment in the digital insurance advice platform, Ctrl.
The investment is part of Naspers’s R1.4 billion commitment to grow early-stage tech companies through its tech investment vehicle, Naspers Foundry.
Naspers Foundry invested $8.3 million as the lead investor, the largest the Naspers investment vehicle has made so far.
The investment in Ctrl reflects the importance of the work Naspers Foundry is doing in South Africa.
They seek to partner with phenomenal local entrepreneurs so that together, they can build technology-led companies that help to make people’s everyday lives better.
Bringy: It helps customers get and claim insurance services in minutes.
Go Insurance: This is an iPhone application that provides car insurance for all drivers.
CompariSure: It is an independent life insurance comparison platform.
Chaka: Story, Founders, Investors & Funding Rounds
Wazi: Story, Founders, Investors & Funding Rounds