Startups
Bismart leverages technology to market insurance products such as mobile phone insurance to tech-savvy millennial Africans.
Insurance penetration in Sub-Saharan Africa is generally low due to distrust of the industry partially due to low financial literacy and the complexity of financial products and cumbersome claims processes. To address these problems, Bismart is working with GreenTec Capital and Konfid.io to develop a blockchain based solution to administer and process insurance claims. To facilitate insurance premium payments, the company is developing a mobile-money based digital wallet system with Flowcash to help users save up for payments.
Leveraging Konfid.io’s technological expertise, GreenTec will support Bismart in implementing a blockchain based insurance platform. The platform will use Konfid’s specialization in developing Smart-contracts to automate insurance claims processing and increase transparency.
Impact
Bismart’s Digital Wallet system helps African millennials to develop financial literacy and expands access to finance and financial services. Offering clients a convenient and flexible Flowcash wallet system to facilitate savings for insurance and premiums.
Insurance penetration in Sub-Saharan Africa is generally low due to distrust of the industry partially due to low financial literacy and the complexity of financial products and cumbersome claims processes. To address these problems, Bismart is working with GreenTec Capital and Konfid.io to develop a blockchain based solution to administer and process insurance claims. To facilitate insurance premium payments, the company is developing a mobile-money based digital wallet system with Flowcash to help users save up for payments.
Leveraging Konfid.io’s technological expertise, GreenTec will support Bismart in implementing a blockchain based insurance platform. The platform will use Konfid’s specialization in developing Smart-contracts to automate insurance claims processing and increase transparency.
Impact
Bismart’s Digital Wallet system helps African millennials to develop financial literacy and expands access to finance and financial services. Offering clients a convenient and flexible Flowcash wallet system to facilitate savings for insurance and premiums.
Overview
Location
Canada, Quebec, Montreal
Employees
1-10
Founded date
2017
Investors 1
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Mentions in press and media 2
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| Oct 23, 2018 | German-based VC GreenTec Capital Partners to open office in Lagos | Frankfurt-based venture capital (VC) firm GreenTec Capital Partners has announced that it will expand its footprint in West Africa by opening an office in Lagos, Nigeria. In a post on its website last Wednesday (17 October), Greentec Capit... |
Reviews 0
FAQ about Bismart
When was Bismart founded?
Bismart was founded in 2017.
What has the press written about Bismart?
Parsers VC has collected 2 articles mentioning Bismart, among them “German-based VC GreenTec Capital Partners to open office in Lagos” (Oct 23, 2018).
Is Bismart still active?
Yes, Bismart is active; its latest activity on Parsers VC dates from Oct 23, 2018.