Diligence memo · auto-generated · as of July 2, 2026
ETAP
ETAP looks over-valued against its niche peers and is dormant on financing cadence.
Businessfiled
ETAP operates in Insurtech, based in Africa. 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
Sub-sector tags: insurance, insurtech.
No verified homepage on file yet — operating evidence is limited to the public record.
Capital & rounds (filed)filed
ETAP has raised $1.5M in disclosed capital across 1 recorded round, aggregated from public filings. Its latest round is modeled as Pre-Seed (a round under $1.0M).
Largest single filing: $1.5M on 2022-04-21.
Most recent recorded round closed around 2022-04-21.
Valuation (modeled)modeled
Provath models ETAP at approximately $20M (range $980K–$134M). This is an algorithmic estimate from round sizes and same-niche peers — not a quoted or reported figure.
Read: Over-valued. Modeled value is 2.25× the median modeled value of Pre-Seed Insurtech companies in 2022–2024 (5 peers) — value vs value, same stage and era.
Financing rhythm & timingmixed
Last raise 4.2 yr ago; this sector typically re-raises about every 18 months.
Only one round on record and long silent — often defunct, acquired, or gone quiet.
Comparablesmixed
Capital scale ranks ahead of 75% of Insurtech peers (16 compared).
Modeled value ranks above 56% of those peers.
Closest niche peers: Nice Deer, MyCover.ai, True Insurtech Solutions Llc, Sehatech.
Risks & flagsmixed
Financing has been silent well beyond sector cadence — possibly defunct, acquired, or paused.
Modeled above niche peers — valuation risk on entry.
No clearly named CEO/founder/principal in the surfaced records — key-person evidence is thin.