The one thing those who can do will do during times of grave uncertainty, say, a crisis like the pandemic? Get insurance. And Indonesian insurtech startups, too, have used this time to secure themselves—PasarPolis and Qoala have had a good year of funding.
PasarPolis, founded in 2015, announced a US$54 million Series B round in September, with GoVentures (Gojek’s VC arm), Alpha JWC, and Xiaomi chipping in. Interestingly, three of Indonesia’s tech unicorns—Tokopedia, Traveloka, and Gojek—have previously invested in the startup in 2018.
Qoala, established in 2018, closed its US$13.5 million Series A round in April, counting Sequoia Capital India among its investors.