Aditya Hadi Pratama · · 1 min readEast Ventures, GGV pour $25m more into Indonesian insurtech firm
Fuse, an Indonesia-based insurtech company, announced that it has raised US$25 million in series B+ funding. Existing investors such as East Ventures (Growth Fund), GGV Capital, eWTP, and Emtek participated in the round.
In the past six months, the company raised another US$25 million in its series B and series B extended rounds, bringing its total series B funding to US$50 million.
Fuse founders Andy Yeung (right) and Ivan Sunandar / Image credit: Fuse
Fuse is an insurance technology company that has several business models, which includes partnerships with agents or marketers, collaborations with other companies, and direct-to-consumer offerings.
The insurtech firm has established partnerships with over 30 insurance companies to offer more than 300 products, which Fuse offers both directly to end consumers and through the over 60,000 agents on its platform.
The company was founded by Andy Yeung and Ivan Sunandar in 2017. To date, it has more than 460 employees across Indonesia, Vietnam, and China.
See also: SEA’s leading insurtech players
Fuse plans to use the fresh funds to expand to more countries in Southeast Asia.
Editing by Collin Furtado and Lorenzo Kyle Subido
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