BimaLab Africa Launches Returnable Grants for Insurtechs Startups

BimaLab Africa has launched a returnable grant programme for startups that have completed its insurtech accelerator and are now seeking to overcome barriers to commercial growth.
The BimaLab Africa Alumni Returnable Grant Programme, implemented by 3IF Ventures, is aimed at companies that have developed insurance or insurance-enabling products but are facing obstacles to securing commercial partnerships, launching products or raising further capital. Applications for the first funding window close on 11 September 2026.
The programme addresses a gap that can emerge after startups leave accelerator programmes. Companies may have a working product and early market traction but still face delays in converting relationships with insurers into contracts, building viable distribution channels or obtaining regulatory approval for new products.

Returnable Grant Model

The funding will be provided through a Technical Assistance Facility and linked to specific milestones agreed with each participating company.
The model sits between a conventional grant and an investment, with repayment obligations applying depending on the intervention. Before receiving support, selected startups will undergo a diagnostic assessment with 3IF Ventures to identify the particular issue affecting their commercial progress.
Interventions are expected to run for six to nine months, within an overall 18-month engagement cycle covering assessment, implementation and follow-up.
The programme covers three areas: insurance partnerships, investment readiness and scale-up.

Targeting the Post-Accelerator Gap

The companies targeted by the programme must already have a live insurance or insurance-enabling product and be operating in an African market. They must also demonstrate commercial traction, such as recurring revenue, a paid pilot or an established relationship with an insurance partner.
Applicants are also expected to be preparing for external fundraising, including having an investment strategy and evidence of engagement with potential investors.
The funding will be tied to specific commercial barriers. General operating costs, debt repayments and expenses outside the agreed intervention will not qualify for support.

Extending BimaLab's Startup Pipeline

The programme builds on BimaLab Africa's work with technology companies developing insurance products and services for African markets.
BimaLab says it has supported 135 startups across 28 African countries, while its ventures have attracted more than $40 million in funding. The new facility is aimed at companies that have already passed through the accelerator but have not yet reached the stage where commercial investment or partnerships can support their next phase of growth.
3IF Ventures is implementing the programme through its Technical Assistance Facility. The investment firm reached a $12 million first close for its Inclusive Insurance Investment Fund in June, backed by FSD Africa Investments and ZEP-RE, with a target of $30 million.
The fund focuses on technology-enabled businesses addressing Africa's insurance protection gap, placing the new returnable grant programme within a broader financing pipeline for the sector.

First Cohort Expected in September

Applications close on 11 September 2026, with the first cohort expected to be selected by the end of September.

The selected companies will undergo a diagnostic assessment to identify the main barriers to growth, with support then linked to agreed milestones. Programme interventions are scheduled to begin in October 2026.