Insurtech firm Fuse raises US $ 25 million in funding

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Insurtech firm Fuse raises US $ 25 million in funding
Insurtech firm Fuse raises US $ 25 million in funding

To offer more than 300 products, which Fuse offers both directly to end consumers and through the over 60,000 agents on its platform, the insurtech firm has established partnerships with over 30 insurance companies

An Indonesia-based insurtech firm, Fuse, announced that it has raised US$25 million in series B+ funding. Existing investors, who participated in the round include East Ventures (Growth Fund), GGV Capital, eWTP, and Emtek.

Bringing its total series B funding to US$50 million, the company raised another US$25 million in its series B and series B extended rounds in the past six months.

Including partnerships with agents or marketers, collaborations with other companies, and direct-to-consumer offerings, Fuse is an insurtech (insurance technology) company that has several business models.

To offer more than 300 products, which Fuse offers both directly to end consumers and through the over 60,000 agents on its platform, the insurtech firm has established partnerships with over 30 insurance companies.

The company, which has more than 460 employees across Indonesia, Vietnam, and China till date, was founded by Andy Yeung and Ivan Sunandar in 2017.

Fuse plans to use the fresh funds to expand to more countries in Southeast Asia.

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