Igloo Raises Additional $8.2M in Series A Funding

Igloo (fka Axinan), a Singapore-based insurtech startup, raised an additional $8.2m in Series A funding.

Backers included InVent, existing backers Openspace Ventures and Linear Capital and new investors Singtel Innov8, Cathay Innovation and Partech Partners.

The company, which has now raised $16m in total funding to date, intends to use the funds to continue to expand operations and its business reach in South East Asia.

Founded in 2016 by Wei Zhu, Igloo leverages AI to create, tailor and offer digital insurance products spanning personal insurance, lifestyle insurance and social insurance. Licensed by Labuan Financial Services Authority, the company operates in Singapore, Indonesia, Malaysia, Thailand, the Philippines and Australia working with e-commerce and travel players.



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