Allianz X co-leads a Series B investment in major African ride hailing platform SafeBoda

Downloads

Related links

Allianz X, the digital investment unit of the Allianz Group, announced an investment in SafeBoda, based in Kampala, Uganda. SafeBoda is a major African ride hailing platform that also offers various on-demand consumer and payment services.

SafeBoda, winner of the 2018 AppsAfrica Award, aims to offer reliable and safe transportation to its customers and its mobile payment platform is an example of digital companies contributing to financial inclusion across Africa.

This is Allianz X’s first investment in an African-headquartered company.

For the Series B investment, Allianz X is co-investing with Go-Ventures, a venture fund whose cornerstone investor is GO-JEK. Allianz and GO-JEK are already partners in GO-JEK’s home market of Indonesia. 

allianz african ride hailing platform safeboda

“Our investment in SafeBoda underlines our continued commitment to growth markets. We are excited to participate in the development of ride hailing ecosystems in Africa,” said Oliver Ullrich, Corporate Development Director at Allianz X. “SafeBoda has successfully established itself in the ride hailing market in Uganda and we look forward to supporting the company’s expansion into additional countries and services.”

Allianz intends to leverage its regional presence and capabilities, working with SafeBoda to transform transportation, logistics, and payment sectors in Africa.

“SafeBoda is a promising start-up with substantial growth potential, including the development of relevant financial services and insurance products,” said Coenraad Vrolijk, CEO of Allianz Africa. “We look forward to our strategic collaboration and to being part of SafeBoda’s success story.”

“SafeBoda is excited to have Allianz X join our investor group, particularly as we deepen our platform and add a number of important FinTech services for both SafeBoda drivers and passengers,” said Alastair Sussock, Co-CEO and Co-founder of Safeboda. “We are confident that collaborating with Allianz  will enable us to grow the business and impact the wider community across East and West Africa.”

About Safeboda

SafeBoda is a leading on-demand transportation service provider in East Africa. SafeBoda provides value to consumers, drivers and passengers, with additional financial services, payments and other on-demand services to keep Africa moving forward.

About Go-Ventures

Go-Ventures is a venture fund that aims to invest in early stage businesses globally. 

About Allianz X

Allianz X is the digital investment unit of the Allianz Group. Allianz X invests in and partners with digital frontrunners in the ecosystems relevant to insurance. Allianz X is one of the pillars of Allianz’s digital transformation strategy, and provides an interface between Allianz entities and the wider digital ecosystem.

Press contacts

Daniela Markovic
Allianz SE
Gregor Wills
Allianz SE
As with all content published on this site, these statements are subject to our cautionary note regarding forward-looking statements:
Disclaimer

Further information

Allianz strengthens its Alternatives capabilities

Allianz announced its intention to combine the strengths of PIMCO, one of the world’s premier fixed income investment managers, and Allianz Real Estate, the captive real estate specialist with more than 70 billion euros of assets under management.

Allianz to invest in ControlExpert

Allianz X, the digital investment unit of Allianz Group, in cooperation with Allianz Germany, has entered into binding agreements with General Atlantic and other shareholders of ControlExpert for a majority investment in the company. The transaction is subject to the approval of the relevant antitrust authorities.

Allianz enters JV agreement with AEON Financial Service

Allianz SE has entered into an agreement to form a life insurance joint venture (JV) with AEON Financial Service (AFS) to develop and market life insurance solutions for local customers in Japan.