Indonesia-based insurance technology developer Qoala has raised an undisclosed amount in a seed round from investors including corporates MassMutual, Telkom Indonesia and Bank Central Asia, Daily Social reported yesterday.
Insurance firm MassMutual, telecommunications firm Telkom Indonesia and financial services firm Bank Central Asia invested through MassMutual Ventures SEA, MDI Ventures and Central Capital Ventura vehicles.
The round also included SeedPlus, Golden Gate Ventures, Genesia Ventures and Sequoia Capital India, which provided $1.5m through its Surge accelerator.
Founded in 2018, Qoala is developing a digital insurance platform using big data, machine learning, internet-of-things and blockchain technologies. It collaborates with e-commerce and travel companies to provide their customers with insurance policies.
