OneDegree, a Hong Kong-based insurance technology startup, raised its Series A2 funding round.
The A2 round, led by BitRock Capital, with participation from Cyberport Macro Fund, Cathay Venture, and previous investors, extended the total amount raised in the Series A round to above US$30m, subject to regulator’s approval.
The company intends to use the funds to:
– accelerate efforts to scale its digital insurance platform,
– launch new product offerings in Hong Kong, and
– explore growth opportunities including the “Greater Bay Area” initiative.
Led by Alvin Kwock and and Alex Leung, OneDegree provides a proprietary platform for consumers to manage their insurance policies and a back-end system that enables automation of traditionally manual insurance processes through data and analytics capabilities.
The company, a candidate under consideration for a digital insurer license in Hong Kong, also collaborates with global leaders in the insurance and healthcare space to deliver innovative technology and user experience.