Miguel Cordon · · 2 min readVinaCapital Ventures backs Vietnamese insurtech firm
VinaCapital Ventures, the technology investment arm of Vietnamese asset management major VinaCapital, announced its investment into insurtech firm GlobalCare. The financial details of the investment were kept undisclosed.
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GlobalCare offers a platform that lets insurance companies and agents sell policies through a cloud-based app. This allows insurers to perform tasks such as monitoring transaction history and processing claims more easily, while giving their customers an access point for their non-life insurance needs.
The company said its platform includes over 10 major insurance distribution channels and 200,000 agents. The platform offers more than 15 types of insurance products including health, business interruption, mobile phone, car, and personal accident policies.
The company was founded in 2017 by Dinh Thi Ngoc Niem and Hang Minh Loi. Niem carries with her over 15 years of experience at companies such as Bao Viet and GIC.
“The non-life insurance segment in Vietnam was about US$2.3 billion in 2019. We are confident that GlobalCare is positioned to capture a significant part of the growth that is expected in Vietnam’s insurance industry,” said Hoang Duc Trung, partner at VinaCapital Ventures.
VinaCapital Ventures was launched in August 2018 and has since invested in 11 companies, including An Vui, Homebase, UrBox, and Validus. One of its more recent investments is its US$1 million injection into GoStream, a multiplatform livestream broadcaster for social sellers.
Editing by Collin Furtado and Lorenzo Kyle Subido
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