# Papaya Insurance

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/papaya-insurance

- Industry: Insurance
- Headquarters: Ho Chi Minh City, Vietnam
- Website: www.ppaya.vn
- Total disclosed funding: $2.2M
- Latest round: Series A (Aug 31, 2022)
- Investors on record: 6

## About

Papaya Insurance is a Vietnamese insurance technology company that offers innovative solutions to enhance risk management and operational efficiency for individuals and businesses.Founded by Hung Phan and Khai Nguyen, Papaya Insurance operates from Ho Chi Minh City, Vietnam. The company has pivoted towards integrating technology in insurance solutions, successfully raising USD 1.3 mn in a Series A funding round on August 31, 2022, which valued the company at USD 10 mn post-money. Papaya Insurance has completed a total of 2 funding deals.Papaya Insurance specializes in a range of insurance products and services tailored for diverse client needs. Their offerings focus on innovative technology solutions that improve operational efficiency and user experience, addressing challenges in various sectors including technology, retail, and logistics. The company serves both B2B and B2C markets, with a presence in North America, Europe, and Southeast Asia, targeting small to medium-sized enterprises as well as large corporations.In the most recent financial year of 2023, Papaya Insurance reported a revenue of USD 787,021.10 and an EBITDA of USD -606,117.50, indicating its current operational metrics as it continues to grow in the industry.Papaya Insurance intends to leverage its recent funding of USD 1.3 mn to develop new products and expand into new geographic markets. The company is focusing on launching innovative insurance solutions by the end of 2023 and is targeting expansion into Southeast Asian markets, enhancing its portfolio to better serve local businesses and individuals. The funding will support product development and market entry initiatives.

## Funding rounds

- Series A, Aug 31, 2022, $1.3M — Smilegate Investment
- Seed, Mar 1, 2021, $0.9M — 500 Global, BonAngels Venture Partners, BAce Capital, Verge HealthTech, TSP Consulting

## Investors

- 500 Global (https://capitalatlas.ai/funds/500-global) — Seed
- BonAngels Venture Partners (https://capitalatlas.ai/funds/bonangels-venture-partners) — Seed
- BAce Capital (https://capitalatlas.ai/funds/bace-capital) — Seed
- Verge HealthTech (https://capitalatlas.ai/funds/verge-healthtech) — Seed
- TSP Consulting — Seed
- Smilegate Investment (https://capitalatlas.ai/funds/smilegate-investment) — Series A