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.
