# Igloo

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/igloo-2

- Industry: Insurance
- Headquarters: Singapore, Singapore
- Website: www.iglooinsure.com/
- Total disclosed funding: $82M
- Latest round: Series B (Nov 29, 2022)
- Investors on record: 14

## About

Igloo is an insurtech company that specializes in delivering innovative and user-friendly insurance solutions, focusing on enhancing accessibility and efficiency in the insurance market across Southeast Asia. Founded in 2016 in Singapore, Igloo operates as a full-stack insurtech company. The firm was established with a focus on providing customized insurance solutions. Notably, Singtel Innov8 has exited its stake in Igloo. Wei Zhu is among the founders, while Kamrul Hassan serves as CEO. In January 2026, Igloo raised USD 5 million in venture funding from new investor Tokio Marine Holdings. Igloo operates as a full-stack insurtech company, offering a range of innovative insurance solutions designed to enhance accessibility and efficiency in the insurance market. The company’s core product offerings include customized insurance solutions such as usage-based coverage for automobiles and motorcycles, tailored cyber-risk insurance, and health insurance specifically for gamers. Additionally, Igloo provides direct-to-consumer insurance marketplaces, which allow businesses to embed tailored insurance products within their platforms, thereby facilitating a seamless user experience. The primary markets served by Igloo include Indonesia, Malaysia, the Philippines, Singapore, Thailand, and Vietnam, focusing on industries ranging from e-commerce and telecommunications to banking and consumer finance. This diverse array of products addresses specific pain points in the insurance value chain, such as improving customer trust and simplifying the claims process.Igloo's revenue for the most recent year, 2022, was USD 3,719,814.10, with an EBITDA of USD -10,305,766.50. The company's revenue model is primarily built around partnerships and direct-to-consumer transactions, leveraging its scalable insurtech platform to drive business growth. Igloo collaborates with over 75 insurance and distribution partners across Southeast Asia, facilitating a variety of insurance offerings through a mix of B2B and direct-to-consumer channels. Clients such as e-commerce platforms can integrate Igloo's insurance products into their offerings, generating revenue through policy sales and commission structures. Flagship products like gadget insurance and transit insurance are tailored to cater to consumer demands, supported by advanced technology and big data insights for competitive pricing. The company will use the January 2026 funding to support the expansion of technology-led and embedded insurance offerings in Southeast Asia.

## Funding rounds

- Series B, Nov 29, 2022, $27M — Finnfund, Cathay Capital, BlueOrchard Finance, Women's World Banking, La Maison Partners
- Series B, Mar 10, 2022, $19M — Cathay Capital, Openspace Capital, Felicity Global Capital
- Series B, May 31, 2021, $19M — Partech Partners, Cathay Capital, Singtel Innov8, Tekton Ventures, La Maison Partners, Openspace Capital, Felicity Global Capital
- Series A, Apr 6, 2020, $8.2M — Partech Partners, Cathay Capital, Singtel Innov8, Tekton Ventures, Linear Capital, Openspace Capital, Intouch Holdings
- Series A, Dec 3, 2018, $7.7M — Linear Capital, Openspace Capital, Panda Online Pte. Ltd., Swift Success Group Limited
- Seed, Dec 20, 2016, $0.6M — Linear Capital

## Investors

- Linear Capital (https://capitalatlas.ai/funds/linear-capital) — Seed, Series A
- Openspace Capital (https://capitalatlas.ai/funds/openspace-capital) — Series A, Series B
- Panda Online Pte. Ltd. — Series A
- Swift Success Group Limited — Series A
- Partech Partners (https://capitalatlas.ai/funds/partech-partners) — Series A, Series B
- Cathay Capital — Series A, Series B
- Singtel Innov8 (https://capitalatlas.ai/funds/singtel-innov8) — Series A, Series B
- Tekton Ventures (https://capitalatlas.ai/funds/tekton-ventures) — Series A, Series B
- Intouch Holdings — Series A
- La Maison Partners (https://capitalatlas.ai/funds/la-maison-partners) — Series B
- Felicity Global Capital (https://capitalatlas.ai/funds/felicity-global-capital) — Series B
- Finnfund — Series B
- BlueOrchard Finance (https://capitalatlas.ai/funds/blueorchard-finance) — Series B
- Women's World Banking — Series B