Indonesian Insurtech Fuse Raises $25M In Series B+ Funding

Dec 13, 2021•over 3 years ago

Amount Raised

$25 Million

Round Type

series b

Description

Indonesia’s insurtech Fuse has raised over $25 million in its Series B+ round led by a global fintech fund. Existing investors including East Ventures (Growth fund), GGV Capital, eWTP and Indonesian conglomerate Emtek Group also joined the round.

Company Information

Company

Fuse

About

In August 2021, the company announced it has closed the Series B round, led by GGV Capital, with the participation of previous investors including East Ventures Growth, SMDV, Golden Gate Ventures, Heyokha Brothers, Emtek, and some undisclosed investors. The companies are seeking to tap the general insurance market in Indonesia, which, in terms of gross written premium, is projected to grow from Rp63.87 trillion ($4.50 billion) in 2020 to Rp77.53 trillion ($5.17 billion) in 2025, according to GlobalData statistics. Launched in 2017 by industry veterans Andy Yeung and Ivan Sunandar, Fuse uses mobile applications to enable an agent-focused insurance distribution model that covers B2A, B2C comparison, B2B2C (micro insurance and financial institute).

Funding Insights

Based on industry data

Tech investment trends

83% of B2B companies plan digital investments, with 79% prioritizing customer experience tech

Indonesian Insurtech Fuse Raises $25M In Series B+ Funding

Description

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Funding Insights

Company Information