Thai financial marketplace raises series C money from Winter Capital, others

Rabbit Care, a Thailand-based financial marketplace, has raised an undisclosed amount in a series C funding round led by investment fund Winter Capital. The round was also joined by Thai media conglomerate VGI, the parent company of Rabbit Care.

The Bangkok-based fintech firm is a marketplace for insurance products, covering motor, health, life, travel, and corporate insurance. It also offers loans, savings, and credit cards.

In March 2021, Rabbit Care said it raised a total of 850 million baht (US$23.1 million) since its inception. In the same month, the firm acquired in Asia Direct Insurance Broker, an omnichannel motor insurance brokerage with annual sales revenue of over US$2.4 million.

In February 2022, Rabbit Care co-founder and CEO Michael Steibl said the company aims to become Thailand’s number one insurance brokerage, targeting more than US$81.7 million in insurance premiums this year. Last year, Rabbit Care more than doubled the value of its insurance premiums distributed to US$51.8 million compared to 2020.

Founded in 2013 as Rabbit Finance, the firm was rebranded to Rabbit Care in October 2021. It has over 4 million customers and works with more than 70 business partners. It employs some 700 staff across its four offices.

Currency converted from Thai baht to US dollar: US$1 = 36.68 baht.

See also: How Indonesian insurtech is changing the game