About Switch
Switch is a company based in Cape Town (South Africa) founded in 2017 by Bradley Smith and Jaclyn Prior was acquired by Santam in June 2020. It operates as a On-Demand Services, and Pay-per-Use / Usage-Based. Switch offers products and services including Car Insurance, Home Items Insurance, Tech Insurance, and Gear Insurance. Switch operates in a competitive market with competitors including Naked, Webfleet, Ctrack, MiWay Blink and Omoove, among others.
- Headquarter Cape Town, South Africa
- Founders Bradley Smith, Jaclyn Prior
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Sectors
Transportation, Automotive & LogisticsFinancial Services
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Email
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Phone
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Website
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Social
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- Legal Name Santam
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Products & Services of Switch
Switch offers a comprehensive portfolio of products and services, including Car Insurance, Home Items Insurance, Tech Insurance, and Gear Insurance. The company's diverse product and service offerings are designed to meet the evolving needs of its customers, address market demands, and provide comprehensive solutions that drive value creation and customer satisfaction across various segments and use cases.
Coverage for cars is provided on-demand as needed.
Selected home items are insured based on choice.
Instant coverage for tech gadgets is offered online.
Gear coverage is activated only when required.
Funding Insights of Switch
- Total Funding Total Funding
- Total Rounds 1
- Last Round Last Round
- First Round First Round
- Investors Count 1
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
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| Feb, 2020 | Amount | Seed - Switch | Valuation | Santam |
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| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Investors in Switch
Switch has secured backing from 1 investor, including institutional investors. Prominent investors backing the company include Santam. This diverse investor base provides strategic capital, industry expertise, and valuable network connections that support the company's growth initiatives, market expansion, and long-term value creation.
| Investor | Description | Founded Year | Domain | Location |
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Santam is recognized as a leading short-term insurance provider in South Africa.
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Founded Year | Domain | Location |
| Investor | Description | Founded Year | Domain | Location |
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Single family office of Amitabh Bachchan, founder of Amitabh Bachchan Corporation or AB CORP
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Founded Year | Domain | Location | |
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Startup ecosystems are ignited through strategic investments by Signite Partners.
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Founded Year | Domain | Location | |
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Venture capital is directed toward companies in multiple sectors.
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Founded Year | Domain | Location | |
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Venture capital is invested in cybersecurity, fintech, and AI startups.
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Founded Year | Domain | Location |
Investments & Acquisitions by Switch
| Company Name | Description | Domain | Location | Founded Year | Amount |
|---|---|---|---|---|---|
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Bionic investment advisor platform
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2016 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 | ||||
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Physical e-commerce kiosks are deployed for rural purchases in Indonesia.
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2014 | ||||
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Fine Asian gourmet food is offered by an internet-first restaurant.
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2016 |
Financial Statements - Switch
| Date | Amount | Transaction Name | Valuation | Lead Investors | Investors |
|---|---|---|---|---|---|
| Jul, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Jan, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
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| Feb, 2021 | Amount | Post-IPO - Grab | Valuation |
investors |
Switch Comparisons
Competitors of Switch
Switch operates in a dynamic and competitive business environment, facing competition from various established players and emerging companies in the market. The competitive landscape includes prominent companies such as Naked, Webfleet, Ctrack, MiWay Blink and Omoove, among others. This competitive environment drives innovation, market differentiation, and strategic positioning as companies strive to capture market share and deliver value to their customers. Understanding the competitive dynamics is crucial for assessing market positioning, identifying growth opportunities, and navigating the challenges inherent in a competitive marketplace.
| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Usage-based car insurance is delivered via an AI-driven mobile app.
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| domain | founded_year | HQ Location |
Provides cloud-based fleet management software solutions.
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| domain | founded_year | HQ Location |
Provider of fleet management products and solutions for the insurance sector
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| domain | founded_year | HQ Location |
Delivers app-based car insurance and claim solutions tailored for individuals.
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| domain | founded_year | HQ Location |
Telematics services for insurance, fleet management, and automotive industries.
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| domain | founded_year | HQ Location |
Transforms complex data into analytics for insurers and automotive businesses worldwide.
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| Company Name | Domain | Founded year | HQ Location | Description |
|---|---|---|---|---|
| domain | founded_year | HQ Location |
Multiple services are booked via an app-based platform.
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| domain | founded_year | HQ Location |
On-demand services are booked through an app-based platform.
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| domain | founded_year | HQ Location |
App based platform offering on demand delivery and ride-hailing services
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| domain | founded_year | HQ Location |
Operates an on-demand hyperlocal delivery app for food and groceries.
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Latest news on Switch
Frequently Asked Questions about Switch
When was Switch founded?
Switch was founded in 2017 and raised its 1st funding round 3 years after it was founded.
Where is Switch located?
Switch is headquartered in Cape Town, South Africa. It is registered at Cape Town, Western Cape, South Africa.
What does Switch do?
Digital insurance solutions are offered by Switch, a division of Santam, focusing on flexible, on-demand coverage for various personal assets. Car, home items, tech gadgets, and gear are insured based on user preference and usage. The service allows customization of coverage item-by-item through an app, ensuring convenience with instant sign-up and effortless claims processing. Dynamic premiums are calculated monthly based on asset usage. The financial services sector, specifically non-life insurance, is primarily targeted with an emphasis on user control and accessibility.
What products or services does Switch offer?
Switch offers Car Insurance, Home Items Insurance, Tech Insurance, and Gear Insurance.
Who are Switch's investors?
Switch has 1 investor. Key investors include Santam.