Allianz X, the digital investment unit of the Allianz Group, has announced an investment in SafeBoda, based in Kampala, Uganda. For the Series B investment, Allianz X is co-investing with Go-Ventures, a venture fund whose cornerstone investor is GO-JEK.
The investment in SafeBoda is Allianz X’s first in an African-headquartered company. However, Allianz and GO-JEK are already partners in GO-JEK’s home market of Indonesia.
There were no details regarding the size of the investment round. SafeBoda is known to be particularly secretive about their funding details. Last year, they raised a Series A that sources close to the deal informed Digest Africa it was around $1.1 million, though the startup declined to reveal the exact details.
In the statement released by Allianz X, the firm described SafeBoda as a "major African ride-hailing platform that also offers various on-demand consumer and payment services". This is largely because SafeBoda is looking to mirror what GO-JEK has done in Indonesia by transforming itself into a super app.