Indonesian Insurtech QOALA Secures $13.5 Million By way of Collection A Funding Spherical Led By Centauri Fund

QOALA, an Indonesia-based insurtech, introduced earlier this week it secured $13.5 million by its Collection A funding spherical, which was led by Centauri Fund with participation from  MDI Ventures, Sequoia India, Flourish Ventures, Mirae Asset Daewoo’s Mirae Asset Enterprise Capital and PT Mirae Asset Sekuritas Indonesia.

Based in 2018, QOALA describes itself as a disruptive insure-tech firm that leverages huge knowledge, machine studying, IoT, and blockchain aiming to revolutionize insurance coverage panorama in Indonesia. The corporate reported that it companions with huge firms, together with e-commerce and journey platforms, to boost their buyer expertise by our distinctive and modern insurance coverage merchandise.

“With our cutting-edge applied sciences plus refined mathematical and machine studying fashions, we goal to create a seamless buyer expertise by automated claims, personalisation and fraud detection engine. Based in 2018, we’re a bunch of mathematicians and pc scientists with robust insurance coverage and expertise backgrounds, with experiences at BCG, Traveloka, and Accenture.”

Whereas sharing particulars in regards to the funding spherical, Tommy Martin, the co-founder of QOALA, reportedly revealed to TechInAsia that the corporate is planning to make use of the brand new funds to speculate additional into expertise, its model, and the crew, which it plans to double to 300 over the subsequent 12 months.

QOALA beforehand raised $1.5 million in seed funding from Sequoia Capital India’s Surge.