Malaysia's PolicyStreet raises $6 million to be the go-to place to buy insurance online

PolicyStreet previously raised $1.8 million via equity crowdfunding last year

Alfred Lee

29 Sep, 2021

Malaysia's PolicyStreet raises $6 million to be the go-to place to buy insurance online | BEAMSTART News

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PolicyStreet, a Malaysia-based platform for buying and comparing insurance products, has recently raised a new round of funding for expansion.

Earlier today, the company announced that it has successfully closed a Series A round of US$6 million.

Investment Information

  • PolicyStreet's Series A round was led by Gobi Partners, with the participation of Altara Ventures and Auspac.
  • In June last year, the company raised $1.8 million via equity crowdfunding led by KK Fund.
  • Funds raised will go towards the firm’s regional market expansion, technological development, and product improvement.

Other Key Highlights

  • Launched in 2017, PolicyStreet lets users easily compare and purchase insurance products online. 
  • The company has recently forged new partnerships with AirAsia Money, FoodPanda, and Carro's MyTukar.
  • PolicyStreet has also received a general insurance and reinsurance license from the Malaysian Labuan Financial Services Authority, allowing the company to create and underwrite insurance products.

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Alfred Lee

Journalist at BEAMSTART. I write about breaking business news in the region.

Based in Malaysia

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Also Mentioned

Gobi Partners

Gobi Partners is an early stage venture capital firm focusing on IT and digital media investments in China.

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