Igloo, a Singapore based fintech firm, announced about it’s rise in series B of worth $21Mn, bringing it nearly to a total worth of $46Mn.
The first pile of additional $19Mn was done and closed in March- led by Cathay Innovation.
These following reports were claimed by Technode Global and it also revealed about the funding done by Blue Orchard, Women’s World Banking Asset Management and Finnfund.
The firm leads towards for services of insurance powered with Artificial Intelligence for giving beat policies as per the requirements of policyholders. Thus, the company provides insurance for auto cybersecurity, electronic and personal goods, e- wallet, personal accident, health, travel, etc and is working for the launch of pet insurance as well.
Ignite, a new app through Igloo was launched recently which helps in claiming the insurance that will smoothen ways to redeem policies. The gained funds will develop firm’s technicalities and product design strategies as the firm work on a vision of ‘Insurance For All’.
To this, the CEO of Igloo- Ronak Mehta claimed “The support from our investors underlines the value of our technology proposition in making insurance accessible and affordable for the underserved communities, especially gig economy workers and micro, small and medium enterprises (MSMEs). As a leading InsurTech firm in Southeast Asia, building sustainable ecosystems is a prerequisite for us. We are now well positioned to leverage our expertise and accelerate our growth across the region and further strengthen our products and services portfolio that addresses the traditional insurance gaps.” And the firm will always thrive to be the best.
