OKO, a ClimateTech and AgriTech startup providing climate insurance for agricultural value chains in Africa, has secured a six-digit funding round led by Catalyst Fund, with participation from two existing investors.
This new capital will accelerate OKO’s commercial growth – already active in several multi-country partnerships with financial institutions and agro-industries – and reinforce its mission to build economic resilience for millions of African farmers facing climate shocks. The announcement follows OKO’s selection as one of 22 African startups in the fourth cohort of the Visa Africa Fintech Accelerator Program.
With operations spanning Côte d’Ivoire, Mali, Uganda, Mozambique and Angola, OKO has already protected more than 33,000 farmers and executed all validated claim payments, strengthening trust among partners and insured farmers. The company will use the funding to deepen partnerships with financial institutions, agritechs and agro-industries, embedding automated climate insurance into agricultural value chains and helping partners de-risk their activities in the face of escalating climate change challenges.
“With climate volatility intensifying across Africa, insurance is no longer optional, it’s essential. We are incredibly proud to have Catalyst Fund lead this round. Their mission-oriented approach and deep expertise in impact ventures and climate resilience align perfectly with our own vision,” said Simon Schwall, CEO of OKO. “This investment is a strong validation of our achievements so far and of our commitment to making climate insurance and other resilience tools accessible to both small and large businesses in Sub-Saharan Africa. With this new support, and by drawing on leading sector advisors, we are ready to expand our reach and enable partners to better serve their farmers with data-driven climate risk management solutions.”
Catalyst Fund’s investment rationale centers on OKO’s innovative approach and its potential to scale a proven model that helps close the climate protection gap for both commercial and smallholder farmers. “The imperative to build a more resilient and inclusive financial system is at the core of our work,” said Maxime Bayen, Operating Partner at Catalyst Fund. “OKO’s technology provides a powerful solution to a pressing global problem, and we believe their platform is a game-changer for financial institutions and agribusinesses seeking to mitigate risk while supporting the agricultural backbone of Africa.”