AsiaTechDaily – Asia's Leading Tech and Startup Media Platform

  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • Events
    • Innovasion Exchange Programme
    • Startup Program
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
    • Unicorn interview
  • Governments
  • Events
  • Lists
  • Subscription Plan
  • Login
Menu
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • Events
    • Innovasion Exchange Programme
    • Startup Program
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
    • Unicorn interview
  • Governments
  • Events
  • Lists
  • Subscription Plan
  • Login
Submit Article
Menu
  • Topics
    • AI & Big Data
    • AR & VR
    • Blockchain
    • Clean Technology
    • Content & Games
    • Cybersecurity
    • Enterprise & SaaS
    • Gadgets & Electronics
    • Health & Bio
    • FinTech
    • IoT
    • Transportation & Logistics
    • Marketplaces & E-commerce
    • Ecosystem
    • Robotics
    • Investments
    • Events
    • Innovasion Exchange Programme
    • Startup Program
    • EdTech
    • Featured
  • Deals
    • Private Equity
    • Venture Capital
    • IPO & Markets
  • Interviews
    • Investors’ interviews
    • Founders’ interviews
    • Unicorn interview
  • Governments
  • Events
  • Lists
  • Subscription Plan
  • Login
Submit Article
Join Chat 💬
InsurTech15 Dec 2021 4:22

Indonesia’s InsurTech startup Fuse secures US$25 million to pursue its expansion plans in Southeast Asia.

by AsiaTechDaily Writer
  • twitter
Bookmark (0)
Please login to bookmark Close

No account yet? Register

Indonesia-based InsurTech startup Fuse has recently raised US$ 25 million in a Series B extension round as it plans to expand in more countries including Vietnam and Thailand in Southeast Asia. Fuse has closed three funding rounds of Series B within the past six months, taking the company’s total fundraise to more than US$70 million.

The funding round was led by an undisclosed global FinTech fund, along with participation from existing investors GGV Capital, East Ventures, Emtek and eWTP.

“We are very glad to be recognized by a leading global fintech fund which had looked into most insurtech players in Southeast Asia and decided to invest in Fuse. We are very excited to get access and insights from other fintech and insurtech portfolio companies in this global network. The strong interest of global investors reconfirms our current ecosystem approach — using Fuse’s technology platform to make insurance more accessible for Southeast Asia’s underpenetrated population,” Andy Yeung, CEO of Fuse said.

With pandemic accelerating the digital transformation in the InsurTech industry, Fuse plans to tap into the large and underpenetrated insurance industry in other Southeast Asian countries, where over 70 percent of the population is connected to the internet.

“We deeply believe that digital insurance transformation can help more people get protection with insurance, and hopefully, the insurance penetration rate can increase substantially in the coming years in Indonesia as well as Southeast Asia,” said Yeung.

About Fuse

Founded in 2017 by insurance industry veterans Ivan Sunandar and Andy Yeung, Fuse leverages mobile applications to enable an agent-focused insurance distribution model that covers B2C, B2A comparison, B2B2C (financial institute and micro-insurance).

The startup offers general health and insurance products that cover segments such as travel, property, vehicles, term life, health, critical illness, as well as digital insurance for gadgets, credit default insurance, and cargo liabilities.

Presently, more than 60,000 agent partners use the company’s mobile application, Fuse Pro while 40 insurance companies avail the platform for distributing 300 insurance products available for end consumers or partners.

Fuse has been officially appointed by Tokopedia in the third quarter of 2021 as its strategic research partner for supporting its general insurance products.

The Gross Written Premium (GWP) of policies within the first three quarters of 2021 transacted through the Fuse platform has already crossed US$70 million.

The startup has more than 460 employees with branch offices in Vietnam, China, and Indonesia.

Tags: digital insuranceFintechInsurTech startupSoutheast Asia

Similar Articles

Steven Chao, the founder and CEO of PixelBloom
Interviews26 Dec 2024 11:26

Work Smarter, Live Better: How PixelBloom’s AiPPT.com Reached 10 Million Users in Just One Year

More
Hao Su
Interviews22 Oct 2024 11:34

The Next AI Wave Is Here! What is an “Embodied AI robot”? Exclusive Interview with Hao Su, the cofounder and chief technology officer of Hillbot AI

More
GSMP
Featured16 Sep 2024 7:03

Unlocking New Horizons in SaaS: Why Silicon Valley Investors and Corporations Should Attend the Korean SaaS Showcase

More

Topics

Menu
  • AI & Big Data
  • AR & VR
  • Blockchain
  • Clean Technology
  • Content & Games
  • Cybersecurity
  • Enterprise & SaaS
  • Gadgets & Electronics
  • Health & Bio

Program

Menu
  • Ecosystem
  • EdTech
  • Featured
  • FinTech
  • Investments
  • IoT
  • Marketplaces & E-commerce
  • Robotics
  • Transportation & Logistics

About

Menu
  • Home
  • About us
  • Privacy Policy
  • Collaborate with AsiaTechDaily
Facebook Instagram Linkedin
  • twitter

Subscribe and be informed first hand about the actual economic news.

All the day’s headlines and highlights, direct to you every morning.

© 2023 asiatechdaily. All rights reserved.