Qishin Tariq · · 1 min readSinglife founder backs $450k round of Singapore insurtech startup
Singapore-based insurtech startup Anycover raised US$450,000 in a pre-seed funding round led by Powerhouse Ventures, with participation from 1337 Ventures.
Anycover co-founders Jan Rothkegel and Bharadwaj Ogirala/ Photo credit: Anycover
The round was also backed by angel investors Walter de Oude (the founder and former CEO of Singlife) and Khairil Abdullah (Veon Ventures’ CEO and the former chairman of Axiata Boost).
Anycover provides API solutions for small and medium-sized merchants to help them run their own extended warranty programs. The services that it offers also help streamline its clients’ onboarding processes by pre-negotiating terms with leading insurers.
The Singapore-based insurtech startup is looking to launch its product by Q3 2022 in the city-state, with plans to expand into Malaysia and Indonesia toward the end of the year.
Anycover co-founder and CEO Bharadwaj Ogirala said that though the ecommerce space in Southeast Asia is expected to double in gross merchandise value by 2025, insurance penetration remains low and can be a key differentiator for merchants.
Anycover, founded in 2021 by BharadwAj and co-founder Jan Rothkegel, has a team of 10 people.
See also: Why insurtech in Singapore has been a tough nut to crack.
Editing by Miguel Cordon and Joy Tirkey
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