Give PolicyStreet some street cred. This Malaysian insurtech startup offers personalized insurance solutions for you and I—all through tech. And they just raised $15.3M in a Series B!

• They serve over 500,000 people and work with brands like Grab, Shopee, foodpanda, Carsome, and more!  

Investor check. Malaysia’s sovereign wealth fund, Khazanah Nasional led the round. Altara Ventures, Gobi Partners and Spiral Ventures also joined in!

• The $$$ came from Khazanah’s Dana Impak fund, which aims to increase Malaysia’s economic competitiveness. 

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🚶New kids on the block

PolicyStreet lets you protect yourself and your big investments. Think cars, travel, and property insurance, they’ve got it!

• All online. No need for fussy paperwork, just use their app to buy insurance with ease.
• Bank-certified. They’re licensed by Labuan Financial Services Authority, Bank Negara Malaysia, and the Australian Securities & Investments Commission.

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🔍 A little more detail

You can also buy insurance from companies that work with PolicyStreet. They offer customizable insurance plans per niche. 

• For example, they offer e-commerce parcel protection with EasyParcel. And they also work with Grab so drivers can easily renew and pay their car insurance!

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💸 What’s with the $$$?

PolicyStreet will develop their tech, improve their underwriting features, and expand regionally. 

• They’re also going to tap into Malaysia’s uninsured market. FYI, insurance penetration in the country is only at 5.4%, which is slightly lower compared to Singapore (9.3%) and OECD countries (9.4%).