As of 2021, the company had over 100 employees, its website said. Igloo said it will use the funds for acquisitions and product development such as artificial intelligence-powered claims assessment tools, and products for the underinsured low to middle-income population in Southeast Asia. Igloo was founded in 2016 by former Grab chief technology officer Wei Zhu. Igloo currently has offices in Malaysia, Indonesia, the Philippines, Vietnam, Thailand and Singapore and said it works with 30 partners to provide 10 types of products like auto and e-wallet insurance to consumers.