C

Cova

As-a-service microinsurance platform for partners

Overview

COVA Africa offers an embedded insurance platform that lets merchants, fintechs, mobile apps, and microfinance institutions add microinsurance to their services. Its API-driven system partners with local and French insurers to provide health, life, accidents, funerals, and property coverage through a mobile-first, easy-to-subscribe experience, bundled with everyday services. The company differentiates itself by focusing on Francophone Africa, forming regional and international partnerships, and offering tailored products like COVA for Pikin's, COVA Life, and COVA Mboa Diaspora. Its goal is to widen insurance penetration and financial inclusion by making affordable, accessible coverage easy to integrate into existing customer journeys.

Significant Headcount Growth

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About Cova

Simplify's Rating
Why Cova is rated
C+
Rated C on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Enterprise SoftwareFintechSocial ImpactFinancial Services

Company Size

11-50

Company Stage

Early VC

Total Funding

$100K

Headquarters

Douala, Cameroon

Founded

2021

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What believers are saying

  • Maviance and Cova launched auto insurance payments on Smobilpay in September 2026.
  • Business in Cameroon reported a 2026 AI remote-payment product for auto insurance.
  • CATAPULT Africa in 2023 and BimaLab Africa expanded Cova’s credibility with insurers.

What critics are saying

  • Cova disclosed no 2026 revenue; Smobilpay scale remains undisclosed after September 2026.
  • Cova depends on partner distribution from Maviance, fintechs, and microfinance institutions.
  • Competitors like Inclusivity Solutions and Baloon can steal integrations; insurer pullout kills distribution.

What makes Cova unique

  • Cova embeds microinsurance inside partner journeys across Francophone Africa.
  • Virginie Pouna Ngomi combines actuarial expertise from AXA, Allianz, PwC, and Activa.
  • Its CIMA-aligned platform enables mobile-money claims and remote auto insurance payments.

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Funding

Total Funding

$100k

Above

Industry Average

Funded Over

1 Rounds

Early VC funding comparison data is currently unavailable. We're working to provide this information soon!
Early VC Funding Comparison Coming Soon

Benefits

  • Hybrid Work Options
  • Flexible Work Hours
  • Paid Vacation
  • Paid Sick Leave
  • Parental Leave
  • Sabbatical Leave

Growth & Insights and Company News

6 month growth

0%

1 year growth

6%

2 year growth

6%
BusinessLive
Jun 27th, 2024
CLD Acquires Cova Security Gates

Security group CLD has acquired Cova Security Gates, a Sussex-based firm specializing in hi-tech gates for terror attack protection. The acquisition aims to fast-track CLD's growth as a global leader in physical security products. Cova, with 30 years in the Hostile Vehicle Mitigation sector, will continue under Jon Trott's leadership. CLD plans significant growth for Cova over the next 3-5 years. CEO Russell Wells highlighted the rising demand for innovative access control systems.

Ingressive Capital
May 31st, 2024
Portfolio — Ingressive Capital

Companies Ingressive Capital has invested in since 2017

TechMoran
Oct 30th, 2023
Cameroonian Startup Cova Africa Wins The Sixth Edition Of Catapult: Inclusion Africa – Togo Edition

COVA Africa, a Cameroonian startup that specialises in insurtech solutions for French-speaking Africa, has won the sixth edition of CATAPULT: Inclusion Africa – Togo Edition.The event Which was organised by the Luxembourg House of Financial Technology and supported by Luxembourg’s Development Cooperation, marked the inaugural programme in Africa.According to Nasir Zubairi, CEO of the LHoFT Foundation remarked ,“CATAPULT: Inclusion Africa’s latest edition marked a significant milestone – our inaugural programme in Africa, hosted at SAM, and the first conducted in French. This signifies our commitment to inclusivity and localisation in fostering African fintech innovations.”The programme focused on various topics, including business model mapping, scaling strategies, peer due diligence processes, sales strategies, operational and risk management, funding and capital raising, and social impact initiatives.COVA Africa’s ground-breaking solutions emerged the winner ,thus securing the coveted prize.“Alone we go faster, together we go further,” quoted Virginie Pouna Ngomi, CEO and co-Founder of COVA Africa, expressing gratitude for the opportunity provided by the Luxembourg House of Technology.The company’s victory demonstrates their exceptional work and underscores the collaborative spirit of the African fintech ecosystem.CATAPULT: Inclusion Africa has emerged as a beacon of financial inclusivity, propelling numerous companies towards success and bridging the gap between Africa and Europe in the fintech landscape.Since its inception, CATAPULT has accelerated 70 companies from over 25 countries. This year, amid 140 applications, ten fintechs from seven countries were selected, participating in 26 sessions facilitated by 28 experts and 38 mentors.The CATAPULT: Financial Inclusion Africa programme received substantial support from key strategic partners such as LFF (Luxembourg For Finance), ADA asbl (Appui au Développement Autonome), EIB (European Investment Bank), and many others.The ten fintech startups that competed in the 2023 edition of CATAPULT: Inclusion Africa Togo Edition showcased a diverse array of solutions.Amira Global Technologies from Abidjan, Ivory Coast, focused on digital transformation and social impact solutions based on their online payment solution, Paiement Pro.from Abidjan, Ivory Coast, focused on digital transformation and social impact solutions based on their online payment solution, Paiement Pro. CA Pay from Libreville, Gabon, offered a web-based payment platform to facilitate financial transactions for the unbanked population in remote areas.from Libreville, Gabon, offered a web-based payment platform to facilitate financial transactions for the unbanked population in remote areas. COVA Africa , the triumphant winner, specialises in insurtech solutions for French-speaking Africa, fostering partnerships and using technology to distribute insurance products., the triumphant winner, specialises in insurtech solutions for French-speaking Africa, fostering partnerships and using technology to distribute insurance products. Dreamcash from Yaounde, Cameroon, introduced MiQo, a neo-microfinance platform providing digital banking solutions to unbanked and underbanked populations.from Yaounde, Cameroon, introduced MiQo, a neo-microfinance platform providing digital banking solutions to unbanked and underbanked populations

FF News
Oct 30th, 2023
Cova Africa Wins Catapult: Financial Inclusion Africa

From 16 to 20 October 2023, representatives of ten African fintechs traveled to Togo, in Lomé, to take part in the latest edition of CATAPULT: Financial Inclusion Africa, an accelerator program focused on financial inclusion, developed and delivered by the Luxembourg House of Financial Technology (LHoFT) and supported by Luxembourg’s Development Cooperation.Hosted at the prestigious SAM (“Semaine africaine de la microfinance”), the African Microfinance Week, this edition marked a series of firsts: it was the inaugural program in Africa and the first session conducted in French, amplifying inclusivity for French-speaking fintech firms.A riveting pitch session unfolded on the evening of 19 October in front of a formidable and excited audience, where each participant had a five-minute window to present their innovative solutions, followed by a two-minute interactive Q&A session with a distinguished jury.Alongside of Geneviève Hengen, Deputy Director for Bilateral Development Cooperation, the esteemed jury panel also included industry stalwarts such as Laura Foschi, Executive Director of ADA asbl, and other prominent figures from the realms of finance and microfinance with Gildas Zodome, CEO of Verti Agri, Grégoire Yakan, CEO of Koosmik and Luc Kpenou, Sales and Marketing Director of the GIM-UEMOA.The highlight of the event was marked by the announcement of the winner, COVA Africa, who was awarded the prize by Geneviève Hengen, Deputy Director of the Bilateral Development Cooperation.“Alone we go faster, together we go further”. (African proverb). Thanks to the COVA AFRICA team for their hard work every day, and to the Luxembourg House of Technology for giving Cova Africa the opportunity to immerse itself in Luxembourg’s financial inclusion ecosystem for a few days and benefit from exceptional advice, training and meetings. Special thanks to Annabelle and Alex and the other finalists for the very high standard of the competition. We are proud to be the winner of the 6th edition of Catapult Africa, the first edition in French, and to bring the trophy back to Cameroon.” added, Virginie POUNA NGOMI, CEO, Co-Founder.CATAPULT: Inclusion Africa, a beacon of financial inclusivity, has been instrumental in accelerating the trajectories of numerous companies, fostering innovation, and bridging the gap between Africa and Europe in the fintech landscape. The week-long bootcamp, rich in sessions and mentorship opportunities, has been a crucible for fintechs, enabling them to refine their strategies, enhance operational efficiencies, and magnify their social impact

Disrupt Africa
Sep 8th, 2022
60 Startups Share $4M As Second Cohort Of Google For Startups Black Founders Fund For Africa

Sixty eligible black-founded startups from across Africa have been selected for the second cohort of Google for Startups Black Founders Fund (BFF) for Africa, sharing US$4 million in funding and support to enable them to scale up their work. Disrupt Africa reported in July of last year on the US$3 million Google for Startups Black Founders Fund Africa, which is part of Google’s racial equity commitments announced in June 2020

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