Companies · Insurtech
Africa · Insurtech
Diligence memoA one-page analyst read on ETAP — recommendation, valuation, rhythm, risks.→ETAP looks over-valued against its niche peers and is dormant on financing cadence.
Synthesized from the figures below est. — every claim rests on a number shown on this page. Valuation uses the insurtech sector profile.
Analyst read est. — computed against this company's niche peers in the same era. Inputs shown; not a quoted figure.
ETAP is one of 16 Insurtech companies tracked from Africa. By capital raised it ranks in the upper tier (ahead of 75% of sector peers), and mid-pack by modeled valuation est..
Ranking is computed against this company's own sector cohort — reported capital is fact; valuation tiers are modeled.
Nigerian insurtech startup ETAP secures $1.5m pre-seed to drive car insurance penetration 0 By Tom Jackson on April 21, 2022 News , West Africa Nigerian startup insurtech startup ETAP, which makes it easier to buy car insurance and make claims, has secured US$1.5 million in pre-seed funding to grow
Nigerian insurtech startup ETAP secures $1.5m pre-seed to drive car insurance penetration 0 By Tom Jackson on April 21, 2022 News , West Africa Nigerian startup insurtech startup ETAP, which makes it easier to buy car insurance and make claims, has secured US$1.5 million in pre-seed funding to grow
As reported in public records reported — not modeled.
Solid bars are reported offering amounts reported; hatched bars are the modeled post-money valuation est. — both on one shared scale so you can read raise-vs-worth at each round directly. Use the toggles to overlay data labels and the niche-peer / market average value lines.
The line shows cumulative reported funding over the period; + labels show new capital added between points when there is room. Toggle on-bar figures, plus the niche-peer and market averages, to read this company against its cohort. Benchmarks are modeled medians.
Stages are modeled from round size (public records carry no series label). Ladder is contiguous — every modeled rung has a record.
Round size and date are reported; the stage label is inferred from round size (latest is Pre-Seed — a round under $1.0M). Valuation is modeled from stage benchmarks scaled by the insurtech sector profile. Directional, not a quoted figure.
Not enough modeled valuation points to chart a trajectory.
Benchmarked against 16 companies in Insurtech. Each bar is a median (the middle company, not an average — outliers don't skew it). Two yardsticks: real money raised (reported on Form D) and modeled value (our estimate est.). These are whole-sector medians across all stages, except the per-stage row.
Raised more than 75% of sector peers (real $). Modeled value above 56% of peers (estimate).
A tighter cohort than the sector chart above — only companies at the same stage (Pre-Seed) that last raised in the same ~3-year era, ranked by modeled value est. (not money raised). This is the exact set the analyst read compares against, so a like-for-like cohort is what makes "over/under-valued" meaningful. This company ranks #1 of 5.
| Company | Stage | Raised · real | Value · est | vs peer med. |
|---|---|---|---|---|
| ETAP this company | Pre-Seed | $1.5M | $20.5M | 2.25× |
| Nice Deer | Pre-Seed | $1.0M | $12.7M | 1.40× |
| MyCover.ai | Pre-Seed | $1.3M | $9.1M | 1.00× |
| True Insurtech Solutions Llc | Pre-Seed | $1.0M | $5.8M | 0.64× |
| Sehatech | Pre-Seed | $850K | $5.8M | 0.64× |
Stage is inferred from round size est., not reported on the filing — a round's dollar size maps to a bucket: Pre-Seed <$1.0M · Seed $1.0M–$4.0M · Series A $4.0M–$15M · Series B $15M–$40M · Series C $40M–$100M · Series D+ $100M–$400M · Growth/Late >$400M.
| Stage | Amount · real | Announced | Post-money · est | Value · est | Conf. |
|---|---|---|---|---|---|
| Pre-Seed | $1.5M | 2022-04-21 | $8.3M | $20.5M | 45% |
Step-up, pace versus the sector's normal cadence, and revenue/exemption moves — read straight from the reported round facts reported.
Predictive signals are modeled est. from this company's own cadence and step-up, plus sector benchmarks — directional, not advice. Peer set and a CSV export live in your analyst workspace.
ETAP is an official record sourced from the U.S. Securities and Exchange Commission (SEC). U.S. data is aggregated from SEC Form D filings.
Nearest neighbours across the whole database — matched on sector, stage and capital scale, and on shared operators (officers or directors named at both companies in public filings). A discovery shortlist, not a valuation cohort — verify before acting, the same way modeled figures are directional.
| Company | Sector | Stage | Raised · real | Value · est | Why similar |
|---|---|---|---|---|---|
| MyCover.ai | Insurtech | Pre-Seed | $1.3M | $9.1M | same sector · same stage |
| Nice Deer | Insurtech | Pre-Seed | $1.0M | $12.7M | same sector · same stage |
| True Insurtech Solutions Llc | Insurtech | Pre-Seed | $1.0M | $5.8M | same sector · same stage |
| Sehatech | Insurtech | Pre-Seed | $850K | $5.8M | same sector · same stage |
| InvestSure | Insurtech | Pre-Seed | $685K | $23.3M | same sector · same stage |
| Octamile | Insurtech | Pre-Seed | $500K | $8.3M | same sector · same stage |
| Inclusivity Solutions | Insurtech | Series A | $1.6M | $34.7M | same sector |
| Pineapple | Insurtech | Pre-Seed | $400K | $13.6M | same sector · same stage |
See where ETAP sits in the wider market — its sector, location and stage cohorts, each with their own leaderboards and capital-flow timelines.
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