# PT Pasarpolis Insurance Broker

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pt-pasarpolis-insurance-broker

- Industry: Insurance
- Headquarters: Jakarta, Indonesia
- Website: www.pasarpolis.com
- Total disclosed funding: $54M
- Latest round: Series B (Sep 2, 2020)
- Investors on record: 13

## About

PT Pasarpolis Insurance Broker, based in Indonesia, specializes in insurance technology, offering innovative solutions that enhance customer experiences across various insurance products.Founded in 2015 and headquartered in Jakarta, Indonesia, PT Pasarpolis Insurance Broker focuses on providing accessible insurance solutions. Cleosent Randing is the CEO and founder of the company, which has secured a total funding of USD 12.00 mn through multiple deals, with the most recent funding round occurring on December 14, 2022. The company has completed 7 deals to date, with significant investments from Argor, Intudo Ventures, and LeapFrog Investments.PasarPolis specializes in insurance technology (insurtech), providing innovative insurance solutions that enhance the customer experience. Their core offerings include various types of insurance products designed to be easily accessible and affordable for a wide range of consumers. The company focuses on simplifying the insurance process from policy issuance to claims handling, ensuring it is user-friendly and efficient. Notable products include health insurance options for employees, smartphone insurance, and travel insurance with instant claims processing, catering to individuals and businesses across Indonesia, Thailand, and Vietnam.PasarPolis operates a business model centered around partnerships and direct-to-consumer sales. Revenue is generated through the sale of insurance products, with clients able to purchase policies tailored to their needs, such as smartphone insurance and employee health coverage. The company utilizes a straightforward transaction structure, allowing end users to easily apply for and claim benefits via their online platform, which enhances user engagement. By focusing on affordability and accessibility, PasarPolis builds relationships with retail and e-commerce partners to expand their reach, ultimately driving revenue through increased policy sales and customer satisfaction.In December 2022, PT Pasarpolis Insurance Broker raised USD 12 mn in venture funding, which will be utilized to develop upcoming insurance products aimed at enhancing their service offerings. The company is planning expansion into additional Southeast Asian markets, including Malaysia and Singapore, by the end of 2023. The recent funding will support these initiatives, enabling PasarPolis to increase its market presence and develop innovative solutions for their customer base.

## Funding rounds

- Series B, Sep 2, 2020, $54M — LeapFrog Investments, Xiaomi Corporation, SBI Investment, [DUP] International Finance Corporation, Alpha JWC Ventures, Intudo Ventures, Argor
- Series A, Mar 1, 2019 — Alto Partners
- Series A, Aug 10, 2018 — East Ventures, Traveloka Services Pte. Ltd., PT Tokopedia, Gojek
- Series A, May 1, 2018 — Analog Capital
- Seed, Aug 1, 2017 — East Ventures

## Investors

- East Ventures (https://capitalatlas.ai/funds/east-ventures) — Seed, Series A
- Analog Capital — Series A
- Traveloka Services Pte. Ltd. — Series A
- PT Tokopedia — Series A
- Gojek — Series A
- Alto Partners (https://capitalatlas.ai/funds/alto-partners) — Series A
- LeapFrog Investments (https://capitalatlas.ai/funds/leapfrog-investments) — Series B
- Xiaomi Corporation — Series B
- SBI Investment (https://capitalatlas.ai/funds/sbi-investment) — Series B
- [DUP] International Finance Corporation — Series B
- Alpha JWC Ventures (https://capitalatlas.ai/funds/alpha-jwc-ventures) — Series B
- Intudo Ventures (https://capitalatlas.ai/funds/intudo-ventures) — Series B
- Argor (https://capitalatlas.ai/funds/argor) — Series B