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Aditya Hadi Pratama · · 1 min readHong Kong insurtech startup bags $28m from Sun Hung Kai’s investment arm
OneDegree, a Hong Kong-based insurance technology startup, announced that it has raised US$28 million in its latest funding round.
More funding details
- Investors: Direct investment unit of Sun Hung Kai & Co. and AEF Greater Bay Area Fund
- Stage: Series B1
More company updates
- The round pushes OneDegree’s total amount raised from investors to US$70 million to date.
- The company will use the fresh funds to invest in new technology, product development, and expansion of its business-to-business (B2B) and business-to-consumer (B2C) segments. It also plans to double its headcount to 300 people over the next 12 months.
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OneDegree operates in Hong Kong, Taipei, Shenzhen, and Singapore.
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It received a virtual insurer license from the Hong Kong Insurance Authority in April 2020 and has more than 90,000 paying customers in the city to date. The company says it has the most number of paying customers among four virtual insurers in the market.
For more coverage of the company, head here. You can also click on the link below to view key details about the company as well as its funding history.
Editing by Collin Furtado and Eileen C. Ang
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