March 27, 2024
Qoala, an omnichannel insur-tech company based in Jakarta, has secured $13.5 million in a Series A funding round. The round was led by Centauri Fund, a joint venture between South Korea's Kookmin Bank and Telkom Indonesia. Other participants included Sequoia India, Flourish Ventures, Kookmin Bank Investments, Mirae Asset Venture Investment, Mirae Asset Sekuritas, and existing investors MassMutual Ventures Southeast Asia, MDI Ventures, SeedPlus, and Bank Central Asia's Central Capital Ventura. This funding brings Qoala’s total raised to $16.5 million.
Project | Latest Raise | Latest Raise | Stage | Total Raise | Category |
|---|---|---|---|---|---|
Qoala | Mar 27, 2024 | $13.5M | Series C | $133.9M | InsurTech |
Qoala collaborates with insurers such as AXA Mandiri, Tokio Marine, and Great Eastern to offer coverage for phone display damage, e-commerce logistics, and hotel-quality checks. The platform uses machine learning to detect fraud claims, enhancing efficiency for both customers and insurers. Customers can make claims by uploading pictures, while insurers can offer more affordable and customizable insurance products.
The startup has partnerships with e-commerce firms including Grabkios, JD.ID, Shopee, and Tokopedia, as well as hotel and travel booking companies like PegiPegi and RedBus. Qoala processes over 2 million policies each month, a significant increase from 7,000 in March of the previous year. The company is expanding its insurance offerings to cover health and peer-to-peer categories.
About Qoala:
Qoala is an omnichannel insur-tech company that aims to make insurance universally accessible and easy to use. The company collaborates with leading insurers and leverages technology to offer a wide range of insurance products that cater to diverse customer needs.
Website: https://www.qoala.vn/
X Account: https://x.com/qoalaid
X Followers today: 176
About Investor
Investor: PayPal Ventures
PayPal Ventures is the venture capital arm of PayPal, focused on investing in startups and growth-stage companies. It aims to foster innovation and drive growth in the fintech sector by providing financial support and strategic guidance to promising companies in payments, commerce, and adjacent industries.
Location: United States
Website: https://paypal.vc/home/default.aspx
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