September 23

Alibaba-Backed eWTP Fund Enters Indonesia by Joining Insurtech Startup Fuse’s Series B Round

By Sainul Abudheen K

Indonesia’s leading insurtech startup, Fuse, has extended its Series B financing round by raising capital from a clutch of investors, including eWTP Technology and Investment Fund, CE Innovation Capital, and Saratoga.

This tranche comes just over a month after Fuse announced the closing of the Series B round led by GGV Capital, with participation from returning investors, including East Ventures (growth fund), SMDV, Golden Gate Ventures, Heyokha Brothers, and Emtek. According to a Deal Street Asia report of June, Fuse raised US$30 million in that round.

The company will use the new funds for further expansion in Southeast Asia.

Photo courtesy of Seika.

Source: e27 (link opens in a new window)

insurance, startups