Igloo raises $19m in Series B funding round

This brings its total funding to over $36m.

Igloo has raised an additional $19m in a Series B funding round led by Cathay Innovation, with participation from ACA and Openspace.

This brings the total fundings of the insurtech firm to over $36m.
Igloo said it plans to use the fresh funds for driving product innovation as well as cementing itself as the leading insurtech firm in Southeast Asia.

Raunak Mehta named as new CEO and co-founder

At the same time as the announcement for its new funding, Igloo has promoted Raunak Mehta as the new Igloo CEO and co-founder.

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Igloo's new co-founder and CEO Raunak Mehta.

Raunak previously held the position of COO in the company. He has has extensive experience in the e-commerce and technology space, having held leadership roles at Asia’s biggest e-commerce brands Flipkart and Zalora. Since joining Igloo in 2018, he has spearheaded its market entry into The Philippines, Vietnam, Thailand, Indonesia, Australia and Malaysia. while establishing partnerships with industry leaders such as Lazada, Shopee, Bukalapak, AIS, RedDoorz, foodpanda, Lotte Finance and Ahamove across a range of insurance products.

Since 2019, Igloo has facilitated over 200 million policies across SEA.