Curacel emerged as the winner of the 12 startups that pitched at the Grand Finale of the Challenge, held on Thursday, September 4, at the Landmark Event Centre.

The Supernova Challenge, a globally recognised pitch competition, made its regional debut at GITEX Nigeria.

Across two days, over 650 startups from more than 27 countries competed for a total prize pool of $22,000.

The competition highlighted game-changing solutions in various sectors, including Agritech, Cybersecurity, Healthtech, and more.

With this success, Curacel’s Chief Executive Officer, Henry Mascot, will be expected to join other startup founders from around the world who will participate in the third edition of Glovo Startup Campus week at Glovo’s Headquarters in Barcelona for an intensive programme designed to accelerate growth, networking, and foster global collaboration.

This year marks the first time Nigeria will be included in the initiative, following a strategic partnership between Glovo and the organisers of the GITEX Nigeria Tech Expo and Future Economy Summit.

The emergence of Curacel as the winner at the GITEX Nigeria Tech Expo & Future Economy Summit in Lagos, among innovative startups competing across several categories, fulfils Glovo’s broader mission to strengthen Africa’s growing technology ecosystem and spotlight the continent as a major player in global innovation.

Speaking at the Grand Finale event, the General Manager of Glovo Nigeria, Lamide Akinola, who was a member of the jury for the 2025 GITEX Nigeria Supernova Challenge, congratulated the winner and expressed excitement about Nigeria’s representation at this year’s event.

Akinola stated that the selection marks a milestone in Glovo’s journey of spotlighting Africa’s startup ecosystem and fostering global connections.

“At Glovo, we are committed to enabling entrepreneurs to access opportunities that not only grow their businesses but also contribute to the digital transformation of Africa. We are proud to see a Nigerian startup founder join the 2025 Glovo Startup Campus. This is a testament to the creativity and resilience of Nigeria’s tech ecosystem,” she said.

In his remarks, Vice President, Commercial, Curacel, Abduljahab Momoh, expressed appreciation to the Glovo team for the opportunity.

He noted that the recognition will motivate his team to accelerate their expansion into Europe, the Middle East, Africa, and the United States of America.

The Glovo Startup Campus is an annual international programme that brings together standout startups from around the world at Glovo’s headquarters in Barcelona, Spain, for an immersive experience in mentorship, networking, and knowledge sharing, geared towards scaling solutions with real-world impact.

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• GITEX NIGERIA Startup Festival cast a unique global spotlight on the profound influence of emerging entrepreneurs across Nigeria & Africa 
• Supernova Challenge finals also headlined the third & final day of GITEX NIGERIA 2025 – Curacel claimed $10,000 first prize

The inaugural GITEX NIGERIA concluded in a tremendous fashion this Thursday in Lagos, as West Africa’s largest tech, AI, and startup show cast a spotlight on the influence of emerging local and regional entrepreneurs.

Held under the patronage of President Bola Ahmed Tinubu, GITEX NIGERIA took place across Abuja and Lagos from 1-4 September.

Supported by the Federal Ministry of Communications, Innovation and Digital Economy with the National Information Technology Development Agency (NITDA), the event was endorsed by Lagos State Government and organised by KAOUN International, global producer of GITEX events.

Taking place in Nigeria’s commercial and innovation capital, the GITEX NIGERIA Startup Festival showcased the strength and depth of an ecosystem through which talent development pathways and digital infrastructure projects are accelerating Nigeria’s US$1 trillion economy ambition.

Dr. Kadri Obafemi Hamzat, deputy governor of Lagos State, hailed its immediate impact at the national level, declaring:

“GITEX NIGERIA sends an inspirational message to every Nigerian: that many positive things are transpiring across our country and opportunities are here. For every attendee at the GITEX NIGERIA Startup Festival, this has been immediately apparent. We see many young citizens and entrepreneurs, with enormous innovative minds, making a real difference – generating interest, raising capital, and overcoming challenges by bringing their ideas to life and delivering tangible impact. Such outcomes are crucial because they show that, as the world evolves, so too does Nigeria – as a nation of leaders, innovators, and architects of digital future we envisage.”

Central to Nigeria – and Africa’s – digital sovereignty is upskilling and expanding grassroots talent and organisations.

As the largest regional showcase of its kind and a convergence point for local and international stakeholders embracing digital transformation, the GITEX NIGERIA Startup Festival was perfectly timed to support this mandate.

Over 650 startups from 27+ countries and 29 different industries participated with a shared vision of co-creating tech architecture across multiple sectors undergoing continent-wide digitisation. Its strategic programme included Nigeria’s most globally diverse investor programme, innovation hub showcases, and curated meetings between startups, investors, corporates, governments, industry leaders, and prospective partners.

Speaking after the recent announcement of funding 75 new research projects for startups, researchers, corporates and Nigerian diaspora for digital innovation, Dr. Bosun Tijani, minister of Communications, Innovation and Digital Economy of the Federal Republic of Nigeria said:

“The opportunity and responsibility lies with all of us to build a resilient, innovative, and globally connected ecosystem, one that ensures that Nigeria not only keeps pace with the digital future but also shapes it. To all enterprises, corporates, startups, academia, and partners, we offer a transparent and accelerated path to collaboration, investment, and cooperation with Nigeria. Let us accelerate the development of the digital economy not only for Nigeria, but for Africa and the world.”

Supporting the multi-sector disruption ranging from education and agriculture through manufacturing and energy, startup participation was bolstered by hundreds of organisations brought by local engagement and international innovation hub partnerships.

Within Nigeria, NITDA, Lagos State, FATE Foundation, Co-creation Hub Africa (CcHUB), and Orange Corners were among the partners, while internationally, the United Nations Development Programme (UNDP), American Business Council (ABC) contributed.

Mr. Kashifu Inuwa Abdullahi, director general/CEO, NITDA, said:

“Across Africa and around the globe, future-oriented partnerships are the lifeblood of thriving startup ecosystems and digital economies. By uniting ambitious organisations from instrumental sectors in the emerging digital economy, we demonstrate how collaboration fuels innovation, accelerates transformation, and empowers Nigerians and Africans to shape their digital future.”

Universally recognised as the world’s leading pitch competition for early-stage companies and emerging entrepreneurs, the Supernova Challenge made its regional debut at West Africa’s largest tech, AI, and startup show – culminating in action-packed Thursday final.

Across two days in Nigeria’s innovation capital, the continent’s brightest and boldest disruptors joined Nigeria’s most visionary startups in competing for a US$22,000 total prize pool across six categories – showcasing game-changing solutions transforming agritech, cybersecurity, edtech, e-commerce, healthtech, telecom, and more.

Following the semi-finals 24 hours prior, the remaining contestants battled it out for valuable cash prizes and unprecedented visibility as regional and international investors watched on.

Abdul-Jabbar Momoh, VP, from Nigerian startup Curacel,  revolutionising health insurance with AI-driven solutions – emerged as the most outstanding finalist among the expert judging panel, and was awarded the US$10,000 first prize for its AI-driven health insurance solution.

Reflecting on the at GITEX NIGERIA, Momoh said:

“Placing first at the GITEX NIGERIA Supernova Challenge gives us more visibility and fuel our expansion across Europe, Middle East and Africa, as well as North America. Most importantly we are going to keep on impacting lives in Africa and around the world by deploying solutions to move health insurance distribution.”

The winners across each Supernova Challenge category were as follows:

• Overall Supernova Champion (US$10,000): Curacel
• AI category (US$2,000): Build Africa
• Digital Finance category (US$2,000): InCash
• Creative Economy & Martech (US$2,000): Hadiya
• Agritech & Energy (US$2,000): Acecore
• Mobility & Smart Cities (US$2,000): Kara
• Disruptor Award (US$2,000): HiPrep

For more information, news and updates on GITEX NIGERIA, please visit gitexnigeria.ng.

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Targeted at startups from the MVP stage to scale-up, the program offers innovators the chance to test and validate their products within AXA’s live business ecosystem.

Participants will also benefit from mentorship, access to industry experts, and hands-on learning through masterclasses, office hours, and co-creation sessions. In some cases, AXA may even engage as an early paying client for standout solutions.

‎This year’s edition will focus on three key innovation areas:

‎1. New Insurance Models and Products – including parametric or index-based covers, usage-based offerings, and IoT-driven solutions.

‎2. Distribution – solutions expanding insurance access to underserved segments such as SMEs, the creative industry, and gig workers, while improving intermediary recruitment and retention.

‎3. Underwriting and Process Efficiency – AI-powered predictive underwriting, prescriptive risk assessments, and tools that drive operational efficiency.

‎Applications are open until August 25, 2025. From the submissions, five startups will be selected to join the accelerator, which will culminate in a Demo Day scheduled for November 6–7, 2025, where founders will present their solutions to AXA leaders, investors, and industry stakeholders.

‎Speaking on the initiative, Ngozi Ola-Israel, Chief Financial Officer of AXA Mansard, said:

“The Innovation Exchange Program demonstrates AXA Mansard’s commitment to building a thriving insurance ecosystem in Nigeria. By collaborating with startups, we are not only solving real market challenges but also redefining the future of insurance. The program creates a platform for innovations that enhance customer value and drive industry-wide growth.”

The program builds on the success of previous cohorts that have supported startups such as Curacel, GeroCare, Clafiya, Chekker, LegitCar, MyItura, and Inocul8, helping them refine their business models and scale across the industry.

Interested innovators can apply through the AXA Mansard Innovation Exchange portal and submit their pitch decks to innovation@axamansard.com before the August 25 deadline.

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It brings together thought leaders, inventors, innovators, and other key players in the technology sector, making it one of the most significant gathering spots on the globe.

Over 10,000 investors from across the world attended the GITEX Global 2022 event, which also provided entrepreneurs with over 25,000 leads for investment meetings and partnership opportunities.

In previous years, participants would have had to travel to Dubai to compete in the tournament for a chance to win $200,000 in funding and a mentorship prize.

But on the 12th of May 2022, the Gulf Information Technology Exhibition (GITEX), in partnership with the Lagos State Government (LSG) and the National Information Technology Development Agency (NITDA), organized the pitch event in Lagos at the Eko Innovation Centre.

The judges at the pitch event were; Akeem Hassan, Technical Assistant to Lagos State State Governor on Innovation and Technology; Tunbosun Alake, the special adviser to the Governor on Innovation and Technology; Segun Cole, Co-founder Fund the Gap Alliance; Amos Udok, Representative NITDA; Ireayo Oladunjoye, Head, of Startups Lagos state employment Trust fund; Oguntade Adeseye, Unit head, Innovation, and Entrepreneurship ONDI, and Olorunnisomo Olaoluwa Co-Founder, Seedbuilders Innovation and Foundation, which had about twenty-seven (27) startups pitch their ideas.

Two Nigerian technology start-ups, Paddy Cover and Pricepally.com emerged winners and received from Dubai World Trade Centre an all-expenses paid trip to Dubai to compete in the tournament for a chance to win $200,000 in funding and a mentorship reward.

The two winners, Paddy Cover and PricePally, will be joined by thirteen (13) additional teams for a complete, all-expenses-paid opportunity to compete in GITEX, making the total delegation from Lagos State fifteen (15) startups, the largest in the history of the Lagos State Government.

The list of the thirteen (13) additional startups includes: truQ, Quadloop, and Imperial EdTech, which are the second, third, and fourth-place finishers in the GITEX Lagos State pitch session; Wellness Health Technologies, D’Aggregate, and LiveBic, which are currently enrolled in the EIC acceleration program; AppZone, Kodobe, Farmz2U, Cdial, RxAll Inc, Curacel, and Evolvestack.

Five (5) out of the fifteen (15) startups supported by the Lagos State Government advanced to the semifinals of the competition. Paddycover, Pricepally, LiveBic, Wellness Health Technologies, and Evolvestack are the startups.

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The startup companies are Bunce – a customer engagement and management platform, Debbo Africa – a healthtech company, Drug Store – a pharmacy technology innovator; Legacy – an insuretech  company and Xchange Box – a fintech company.

The Innovation Exchange is a 15-week programme designed by AXA to enable technology innovators looking to solve challenges within the insurance space.

The program provides a platform for these startups to access industry experts, mentors, and experience-based learning through a series of masterclasses, office hours and co-creation sessions. Successful startups from the programme can also have AXA as one of their early paying customers.

Speaking on the development, the Chief Financial Officer, AXA Mansard Insurance Plc, Ngozi Ola-Israel, the application process which began in July 2024 attracted over 50 entries from different innovators.

“These entries were exposed to different levels of rigorous reviews from experts across our company before we arrived at the final five”, she noted.

“As a leader in unlocking technology to accelerate the growth of insurance in Nigeria, the interests and entries in this programme are further conviction that our industry is advancing in the right direction.

The sheer number of innovations that we have seen convinces us of the possibilities and opportunities that the insurance industry can bring to our national development.

What this tells us is that there are innovators who have seen the challenges that we face as an industry; and they are creating different types and levels of opportunities by solving the problems. So in the end, the innovators win, the customers win, the industry wins and ultimately our economy wins from being able to fully harness the benefits of insurance”.

“So, we congratulate the newly admitted cohort members selected from all those who applied. Our aim is to be able to expand the programme as we go and get more innovators on board to help them accelerate”.

This cohort members were selected based on their ability to demonstrate solutions for New Insurance Models & Products and provide Value-Added Services such as gamification solutions for enhancing digital customer interactions, retention and emergency assistance services.

The innovation exchange programme was launched in 2022 and has since accelerated 10 startups. Some of them include, Curacel, GeroCare, Clafiya, Chekker, LegitCar, MyItura & Inocul8.

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Adam will bring a wealth of experience to Curacel from his role at Pie Insurance, where he works on fundraising, strategy, and operational initiatives.

Prior to Pie, he served as VP at Datawallet, a blockchain and data privacy startup, and worked in the Investment Banking Division at Morgan Stanley, where he advised global clients on M&A, LBOs, and debt and equity raises.

He also served as a US Naval Officer in Japan, Iraq, The Pentagon, and The White House. He holds a BS in Economics from the United States Naval Academy, an MA in Global Security Studies from Johns Hopkins, and an MBA from Harvard Business School.

He is passionate about company building and will support Curacel to deepen insurance infrastructure across developing markets, where it can expand access and provide financial safety for billions of underinsured people.

Curacel makes it easier for insurers to distribute their products, automate their claims processes and drive revenue growth by giving them easy-to-use technology solutions that have been specifically designed to drive up insurance inclusion on the continent.

With Curacel Grow, Insurance companies are empowered to increase their recurring revenues by offering digital insurance products that are seamlessly embedded into their existing products and services, driving much-needed insurance penetration and customer loyalty.

Leading insurers like AXA Mansard, Liberty Health, Old Mutual and Jubilee Health also leverage Curacel’s market leading technology to improve the efficiency and accuracy of their claims processes. 

Curacel has processed more than $100 million worth of claims, working with more than 20 insurers and more than 5,000 service providers in (over) 8 countries across the continent.

As well as powering embedded insurance for 100+ businesses across its markets include top Banks. In 2022, Curacel grew its transaction volume by 600 percent and increased its revenue by 500 percent.

Curacel recently announced a $3million seed round to drive its expansion into North Africa, starting with Egypt and Morocco.

Henry Mascot, CEO of Curacel, said “We are excited to welcome Adam to our advisory board. His experience and expertise will be invaluable as we deliver technology solutions to drive insurance inclusion in emerging markets. We look forward to working with him to continue to grow and expand our business.”

Adam Jones said, “I am excited to be supporting Curacel on its mission to deliver improved insurance infrastructure across emerging markets, where it can expand access and provide financial safety for billions of underinsured. The team has achieved a lot of outstanding success in a short space of time and I am confident that we can achieve more success together.”

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The seed funding, which will also facilitate the expansion of Curacel into North Africa, included Tencent, AAF Management (invested in Sure, Flutterwave), Elefund (invested in Robinhood, Pie Insurance and Sure), Blue Pointe Capital Management,  Pioneer Fund, Olive Tree Capital and Y Combinator, as well as James Park (CEO of Fitbit), Olugbenga ‘GB’ Agboola (CEO of Flutterwave), Babs Ogundeyi (CEO of Kuda) and other strategic investors. Top executives from Covergenius, Zopper and Pie Insurance will also join Curacel’s advisory board as part of the round.

The combination of a fast growing population, a rising middle class and increasing access to financial services across the continent means more Africans have the opportunity to experience a wider range of products and services.

From buying cars to accessing accommodation, these experiences come with various risks and insurance companies play a huge role in making it easier to manage the risks and enjoy these experiences with confidence. However, with insurance penetration across the continent still under 3 percent, many Africans are having to take on these entirely by themselves. 

At the same time, the paper-based approach and antiquated technology that powers many insurers’ processes is time-consuming, unduly expensive and prone to fraud and waste. African insurers lose more than $12 billion per year to fraudulent, wasteful and abusive claims, which makes them understandably cautious and risk-averse with the customer they choose to serve. 

Curacel makes it easier for insurers to distribute their products, automate their claims processes, and drive revenue growth by giving them easy-to-use technology solutions that have been specifically designed to drive up insurance inclusion on the continent. With Grow, Curacel’s embedded insurance product, more than 100 banks, fintechs, logistics companies and other tech-enabled companies, including ALAT (Nigeria’s first digital bank), Providus, PalmPay, Float, etc and others are empowered to increase their recurring revenues by offering digital insurance products that are seamlessly embedded into their existing products and services, driving much-needed insurance penetration and customer loyalty. 

Leading insurers like AXA Mansard, Liberty Health, Old Mutual and Jubilee Heath also leverage Curacel’s market leading technology to improve the efficiency and accuracy of their claims processes. The company’s AI-powered infrastructure means claims can be submitted and processed in real time, helping insurers to reduce their claims cycle by more than 70 percent and process up to 10x more claims. 

Curacel has processed more than $100 million worth of claims, working with more than 20 insurers and more than 5,000 service providers in 8 countries across the continent. In 2022, Curacel grew its transaction volume by 600 percent and increased its revenue by 500 percent. Starting with Egypt and Morocco, the new funding will enable the company to roll out its services in North Africa and deepen its presence in other parts of the continent.

According to Henry Mascot, CEO and co-founder of Curacel, “We are bullish on the potential of the right technology in the right places to close the protection gap across Africa and emerging markets. It is an exciting time for us as we secure the capital to deliver the vision and onboard the people who have built these technologies at scale in more mature markets, and we are looking forward to delivering more technology solutions to drive up insurance inclusion.”‍

Omar Darwazah, Managing Director and General Partner at AAF Management, said “at less than 3%, the insurance penetration rate in Africa is one of the lowest in the world, presenting an incredible market opportunity for Henry and the team at Curacel to bridge that insurance gap. We are excited to participate in the company’s Seed round and join Curacel’s mission in building easy-to-use technology solutions for insurers to distribute their products on the continent.” 

Serik Kaldykulov, General Partner at Elefund, said “Africa remains a relatively untapped market when it comes to insurance and technology presents the best opportunity to reach new users and deliver excellent services. Curacel has built a suite of solutions and an impressive track record of success that makes us very excited to be supporting them on their mission to use technology to drive up insurance inclusion in Africa.”

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