Malian insurtech startup OKO has secured a new six-figure funding round led by Catalyst Fund, alongside participation from two existing investors. The financing comes as the startup accelerates its mission to safeguard smallholder farmers across Africa from the worsening impacts of climate change. With agriculture highly vulnerable to unpredictable weather patterns, OKO aims to strengthen resilience by embedding digital crop insurance into farming value chains.
Expanding Climate Insurance Solutions
Founded in 2017, OKO has built a platform that delivers affordable, mobile-based crop insurance for farmers with limited access to traditional financial services. By using mobile technology, the company provides farmers with simple and accessible insurance products that reduce exposure to climate volatility. This approach has proven effective in reaching underserved communities that are often excluded from mainstream financial protection.
Operating in Ivory Coast, Mali, Uganda, Mozambique, and Angola, OKO has already provided coverage to more than 33,000 farmers. The company has processed and paid all validated claims, a track record that has enhanced its credibility among both farmers and financial partners. This transparency and reliability have become core to OKO’s value proposition in regions where trust in insurance providers has historically been low.
Strategic Use of Funding
The newly raised capital will enable OKO to strengthen partnerships with banks, agritech firms, and agro-industries across Sub-Saharan Africa. By embedding its automated insurance products into agricultural supply chains, the startup seeks to reduce risk for large-scale agribusinesses while supporting smallholder farmers with more stable livelihoods. OKO plans to leverage this investment to expand its reach, scale operations, and introduce new resilience tools tailored to the realities of climate-affected farming communities.
CEO Simon Schwall emphasized that the funding validates the company’s progress to date and its commitment to broader impact. “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, as their mission-driven approach aligns perfectly with our vision,” he said. Schwall added that the support will allow OKO to work closely with sector advisors to roll out advanced, data-driven climate risk management solutions.
Investor Perspective
Catalyst Fund, which led the round, highlighted OKO’s innovative role in bridging the climate protection gap. The investor’s focus is on backing solutions that can transform resilience across emerging markets, particularly in sectors like agriculture that are most exposed to climate shocks. For Catalyst Fund, OKO’s model represents a scalable and practical way to protect both farmers and commercial players who depend on agriculture’s stability.
“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.” This endorsement underscores the confidence investors see in OKO’s capacity to expand impact at scale.
As climate change continues to threaten food security across Africa, solutions like OKO’s mobile-based crop insurance are increasingly vital. By combining digital accessibility with trusted financial protection, the startup is reshaping how farmers manage risk in unpredictable environments. With Catalyst Fund and its partners behind the new round, OKO is poised to deepen its presence across the continent and further strengthen climate resilience for Africa’s farming communities.