Here’s Qoala! They’re an Indonesia-founded insurance platform with over 5M customers that just raised a $47M Series C co-led by PayPal Ventures and MassMutual Ventures.

• They have 5M customers. They processed over 115k claims and added 45k new users last year.
• They operate in Indonesia, Malaysia, Thailand, and Vietnam.

Investor check. PayPal Ventures and MassMutual Ventures co-led the round. MUFG Innovation Partners, Omidyar Network, and existing investors Flourish Ventures, Eurazeo and AppWorks also joined in!

• They’ve raised over $130M to date.

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❓ Unsure? Just get in(sure)d

Founded in 2018, they offer all kinds of insurance from their partners on their website and app. They've got health, vehicle, property, disease, life insurance and more!

• They also offer their insurance products through over 50+ platform partners like Kredivo, Shopee, and Traveloka!
• They’ve seen over 15x growth in gross written premium from 2020 to 2023.

Convenient and affordable. Pick whichever insurance you need from Qoala, pay, and you're all set.

• Easily compare prices and get transparent fees too!
• Claims made easy. Just upload images, and they’ll use machine learning to detect fraud.

Online and offline. They have a network of over 60k human agents that sell insurance.

• They don’t go direct-to-customer. They leverage channels like consumer-facing platforms and traditional offline brokers to close more clients.

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⏭️ What’s next?

They’ll be using the $$$ for strategic acquisitions and partnerships, and they’ll be bringing more AI solutions into their channels too!