Qoala raises $65m in new funding round

The round was led by Eurazeo with participation from several existing investors.

Indonesian insurtech Qoala has successfully raised $65m in a Series B funding round led by Eurazeo with participation from several existing investors including Flourish Ventures, KB Investment, MassMutual Ventures, MDI Ventures, SeedPlus and Sequoia Capital India.

In addition, BRI Ventures, Daiwa PI Partners, Indogen Capital, Mandiri Capital Indonesia and Salt Ventures also joined the investment round as new investors.

Qoala is an insurtech firm based in Indonesia that distributes retail insurance products to consumers for cars, bikes, homes, and health through its omnichannel platform. It recently had a successful expansion to Thailand and Malaysia in 2021.

Since Series A funding round in 2020, Qoala has acquired over 50,000 insurance marketers and provided them a platform supported by over 50 insurers for them to sell insurance from multiple insurers, whilst managing pre-sale and post-sale services. It also provides several innovative micro-insurance products through its partnerships with Traveloka, Redbus, DANA, JD.ID, Shopee, Kredivo and Investree among others.

Qoala plans to use the fresh funds to invest in technology and product as well as grow its team.

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