Malaysia's PolicyStreet Secures $21M Series C Funding Led by Cool Japan Fund for Asia Expansion

Malaysia's pioneering insurtech firm PolicyStreet has raised US$21 million (RM84 million) in the first close of its Series C funding round.

The round was led by Cool Japan Fund, with key participation from existing backers Altara Ventures and Gobi Partners.

Impressive Growth and Profitability Milestone

This funding follows PolicyStreet's achievement of over $1 million in profit for the financial year 2025.

The company's customer base has doubled from 5 million to more than 10 million users.

Total sum insured has surged from $6 billion to over $10 billion.

History of Innovation in Embedded Insurance

Founded in Malaysia, PolicyStreet specializes in embedded insurance that integrates seamlessly into digital transactions and services.

Building on its 2023 funding round, the firm has rapidly expanded across Southeast Asia.

Previously backed by sovereign wealth fund Khazanah Nasional, it now counts two such investors.

Future Expansion and Market Impact

The fresh capital will drive regional expansion, technology upgrades, and deeper partnerships throughout Asia.

Co-founder and Group CEO Yen Ming Lee emphasized rising confidence in embedded insurance within Asia's digital economy.

PolicyStreet targets doubling its revenue in 2026 amid insurtech sector growth.