Qoala Raises US$ 65M in Series B Funding

Left to right: Harshet Lunani (CEO and Founder of Qoala) and Tommy Martin (COO and Co-founder of Qoala)

Qoala, a Jakarta, Indonesia-based insurtech startup, raised US$65M in Series B funding.

The round was led by Eurazeo.

The company intends to use the funds to accelerate business growth and expand operations.

Led by CEO Harshet Lunani and COO Tommy Martin, Qoala is a technology startup that aims to socialize insurance through a combination of product development supported by machine learning-based claim processes. The company operates in three countries; Indonesia, Malaysia, and Thailand offering various insurance protections, ranging from health, motor vehicle, property, personal accident, and other needs that can be accessed transparently through the application or website.

Qoala has acquired over 50,000 insurance marketers and provides a platform supported by over 50 insurers for them to sell insurance from multiple insurers, while managing pre-sale and post-sale services. It also provides several innovative micro-insurance products through its partnerships with Traveloka, Redbus, DANA, JD.ID, Shopee, Kredivo and Investree among others.