Singapore-based InsurTech startup Igloo has raised around $8.2m in the latest fund raising exercise, taking the total amount of funds raised to date to $16m.
The fresh round of funds will fuel expansion plans for Vietnam, as well as help the company strengthen its foothold in the Philippines and Thailand. The money will also help it to expand business development and engineering teams across the region.
Igloo, which was formerly called Axinian and incorporated in 2016, counts among its backers InVent, the corporate venture capital division of Intouch Holdings; Openspace Ventures; Linear Capital; Cathay Innovation; Partech Partners, and Singtel Innov8.
Igloo’s products include those related to travel, personal goods insurance, and those offering accidents and disease insurance packages. It has integrated its platform with several digital commerce and travel service providers in Asia, including Bukalapak, Lazada, RedDoorz, Shippit, and Shopee.
Its current markets are Singapore, Indonesia, Malaysia, Thailand, the Philippines, and Australia.