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)