Indonesia-based digital insurance platform developer Fuse has closed a series B round of undisclosed size featuring media group Emtek and conglomerate Sinar Mas’ Digital Ventures (SMDV) subsidiary, Tech in Asia reported yesterday.
Venture capital firm GGV Capital led the round, which included EV Growth, a fund backed by internet holding company Z Holdings’ Z Venture Capital unit, SMDV and East Ventures, in addition to Golden Gate Ventures and Heyokha Brothers.
DealStreetAsia had reported in June this year the round was sized at about $30m and included Blue Pool Capital.
Founded in 2017, Fuse runs an online business-to-business-to-customer (B2B2C) platform that matches insurance providers with potential buyers and agents.
The company has partnered more than 30 insurance companies, 50,000 insurance agents and several technology groups. EV Growth had led its $2m series A round in late 2019.
