Qoala secures $47m in Series C funding

Total capital raised to date surpasses $130m.

Insurtech Qoala has completed its Series C funding round, raising $47m led by PayPal Ventures and MassMutual Ventures. MUFG Innovation Partners, Ohana Holdings, and existing investors, including Flourish Ventures, Eurazeo, and AppWorks, also participated.

According to a press release, the Series C funding will fuel Qoala's expansion of its embedded insurance business across Southeast Asia and enhance its tech-driven initiatives, integrating artificial intelligence across all channels to elevate customer, agent, and partner experiences. 

Additionally, the investment will support the exploration of new products and channels for its agent platform, alongside accelerating growth through strategic acquisitions and partnerships across all verticals, reinforcing Qoala's leading market position in the region.

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Since its Series B fundraiser in 2022, Qoala has recorded significant growth in gross written premiums and claims processing, with notable improvements in customer satisfaction. 

The company's profitability metrics have shown an upward trend, surpassing GWP growth, and highlighting its sustainable financial performance, it said in the press statement.

The funding will further enhance agent experiences and operational efficiency through advanced use of generative AI, ensuring Qoala remains a leader in technology and reduces time-to-market. 

With the latest investment, Qoala's total capital raised to date exceeds $130m.