WorldCover has secured investment in its Series A round to enhance climate risk protection solutions for farmers in Sub-Saharan Africa, addressing critical gaps in agricultural insurance.

Target Information

WorldCover is a pioneering company focused on providing innovative solutions for climate risk management in the agricultural sector, particularly in Sub-Saharan Africa (SSA). Established to address the critical need for last-mile risk transfer, WorldCover connects farmers facing climate-related challenges with investors looking to diversify their portfolios. The company's platform facilitates the provision of insurance products that protect farmers from adverse weather impacts, ultimately contributing to enhanced agricultural productivity and community welfare.

Farmers in SSA, particularly smallholders operating on less than 2 hectares, are the backbone of the region's agriculture, which contributes an average of 15% to the GDP of SSA. In nations such as Chad, this contribution can soar to 50%, underscoring the vital role that agriculture plays in the economy and employment. WorldCover aims to empower these farmers by providing risk management tools that can help safeguard their livelihoods and encourage further investments in their agricultural practices.

Industry Overview

The agriculture sector in Sub-Saharan Africa is critical to the region's economic development, accounting for a substantial share of the GDP in many countries. For instance, Nigeria, the Democratic Republic of Congo (DRC), and Ethiopia exhibit GDP contributions from agriculture