Guess who's celebrating? Igloo! This Singaporean insurtech just brought their Series B round to $46M! They just raised a $27M Series B extension.

• They've facilitated over 300 million policies and increased gross written premiums by 30x since 2019.

Investor check. German development bank kFW's InsuResilience Investment Fund II led the round. The Women's World Banking Asset Management (WAM), FinnFund, La Maison and Cathay Innovation also joined in!

• They raised an initial $19M Series B in March.

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✅ How it works

Igloo offers 15 insurance products, ranging from $0.02 phone screen protection to $600 comprehensive vehicle insurance.

Beyond the typical insurance. They even have harvest insurance for farmers, health insurance for gamers, insurance for delivery riders and insurance for goods in transit!

And don't forget the tech! Their end-to-end technology powers all their products across the entire value chain, from product discovery to insurance claims.

• They have a product discovery platform, a KYC workflow, APIs, automated claims management systems and more!
• This allows them to go to market faster and offer lower insurance premiums.

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🤝🏼 Partnering up

They're also powered by their ecosystem of partners!

• Their 20 global, regional and local partner insurers underwrite the insurance policies to evaluate the risks and pricing.

How it gets to you? Igloo's 55+ distribution partners across seven countries. These companies offer their insurance products to their users, both B2B and B2C.

• These include telecoms, e-commerce platforms, financial service providers and logistics companies like Shopee, GCash, Loship and foodpanda.

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🤷🏻‍♀️ Why the extension?

They raised the extra $$$ thanks to investor interest after the initial Series B! They'll be focusing on hiring, product and identifying and closing M&A opportunities — along with enjoying a multiyear runway.