Pranav Kiran · · 1 min readHong Kong insurance tech startup extends series A, raises over $30m
Hong Kong-based insurance tech startup OneDegree said it has extended the second tranche of its series A and has now raised more than US$30 million.
Fintech-focused BitRock Capital, which is backed by warehouse operator GLP, was the lead investor in the A2 round, according to a company statement.
Cyberport Macro Fund, Cathay Venture, and other existing investors also participated in the extension.
The company said it would use the proceeds to scale its digital platform faster, launch new products in Hong Kong, and scout for growth opportunities as part of the “Greater Bay Area” initiative.
Launched earlier this year by China, the “Greater Bay Area” initiative is an attempt to connect Hong Kong, Macau, and nine other cities in southern China through infrastructure projects and boost trade in the region.
Editing by Dante Gagelonia
(And yes, we’re serious about ethics and transparency. More information here.)
Stay updated on the go with our mobile app.
Get latest insights with smoother, more personalized experience through TIA mobile app.
