# Qoala

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/qoala

- Industry: Insurance
- Headquarters: Jakarta, Indonesia
- Website: www.qoala.id
- Total disclosed funding: $137M
- Latest round: Series C (Mar 26, 2024)
- Investors on record: 27

## About

Based in Indonesia, Qoala is an innovative insurtech company specializing in diverse insurance solutions tailored for consumers and businesses, enhancing accessibility and protection against unforeseen events.Founded in 2018 in Jakarta, Indonesia, Qoala operates as a leading provider of insurance products. The company has pivoted towards integrating advanced technological solutions to enhance customer experiences and streamline operations. Qoala was co-founded by Harshet Lunani and Tommy Martin, who have a history of entrepreneurship in the tech and insurance sectors. In August 2026, Qoala raised an undisclosed amount of venture funding from Krungsri Finnovate. Qoala Indonesia operates as a leading insurtech company, offering a comprehensive suite of insurance solutions tailored to meet the diverse needs of consumers and businesses. The company’s core product offerings include various insurance plans that encompass health, property, and personal liability, designed to provide extensive coverage and financial protection against unforeseen circumstances. These solutions target key end-use cases such as safeguarding individual assets, ensuring health security, and protecting families from financial burdens related to accidents or emergencies. Qoala serves a broad client base, including both individual customers seeking personal insurance and businesses that require coverage for their operations.Qoala Indonesia's revenue generation model is primarily based on direct-to-consumer transactions, where individuals purchase insurance products tailored to their needs. These transactions typically occur through a digital platform, allowing customers to easily compare and select insurance plans that best suit their requirements. The company employs a pricing structure that varies based on the type of insurance product acquired, with specific plans offering extensive coverage at competitive rates. Notably, flagship products may include specialized health insurance plans and comprehensive property coverage, which are essential offerings designed to attract a wide array of clients. The company's focus on digital accessibility ensures streamlined transactions, enhancing customer experience and engagement while driving revenue growth through increased policy uptake.

## Funding rounds

- Series C, Mar 26, 2024, $47M — Eurazeo, Omidyar Network, Ohana Holdings, AppWorks, MassMutual Ventures, MUFG Innovation Partners, Flourish Ventures, PayPal Ventures
- Series B, Jan 26, 2023, $7.5M — Eurazeo, responsAbility, AppWorks, IndoGen Capital
- Series B, Jun 7, 2022, $61M — Hong Shan, Eurazeo, Daiwa PI Partners, KB Investment, Apis Partners, MassMutual Ventures, Mandiri Capital Indonesia, MDI Ventures, IndoGen Capital, SeedPlus, Flourish Ventures, BRI Ventures
- Series A, Mar 10, 2021, $5.2M — STRIVE, Nogle Capital Management, Amand Ventures, NUS Technology
- Series A, Jul 1, 2020, $14M — Hong Shan, KB Investment, MassMutual Ventures, Mirae Asset Venture Investment, MDI Ventures, Central Capital Ventura, SeedPlus, Flourish Ventures, Mirae Asset Sekuritas, Surge
- Seed, Apr 12, 2019, $2.8M — MassMutual Ventures, MDI Ventures, IndoGen Capital, Central Capital Ventura, SeedPlus, Surge, K9 Industries Pte. Ltd

## Investors

- MassMutual Ventures (https://capitalatlas.ai/funds/massmutual-ventures) — Seed, Series A, Series B, Series C
- MDI Ventures (https://capitalatlas.ai/funds/mdi-ventures) — Seed, Series A, Series B
- IndoGen Capital (https://capitalatlas.ai/funds/indogen-capital) — Seed, Series B
- Central Capital Ventura (https://capitalatlas.ai/funds/central-capital-ventura) — Seed, Series A
- SeedPlus (https://capitalatlas.ai/funds/seedplus) — Seed, Series A, Series B
- Surge (https://capitalatlas.ai/funds/surge) — Seed, Series A
- K9 Industries Pte. Ltd — Seed
- Hong Shan — Series A, Series B
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series A, Series B
- Mirae Asset Venture Investment (https://capitalatlas.ai/funds/mirae-asset-venture-investment) — Series A
- Flourish Ventures (https://capitalatlas.ai/funds/flourish-ventures) — Series A, Series B, Series C
- Mirae Asset Sekuritas — Series A
- STRIVE (https://capitalatlas.ai/funds/strive) — Series A
- Nogle Capital Management (https://capitalatlas.ai/funds/nogle-capital-management) — Series A
- Amand Ventures (https://capitalatlas.ai/funds/amand-ventures) — Series A
- NUS Technology — Series A
- Eurazeo (https://capitalatlas.ai/funds/eurazeo) — Series B, Series C
- Daiwa PI Partners (https://capitalatlas.ai/funds/daiwa-pi-partners) — Series B
- Apis Partners (https://capitalatlas.ai/funds/apis-partners) — Series B
- Mandiri Capital Indonesia (https://capitalatlas.ai/funds/mandiri-capital-indonesia) — Series B
- BRI Ventures (https://capitalatlas.ai/funds/bri-ventures) — Series B
- responsAbility (https://capitalatlas.ai/funds/responsability) — Series B
- AppWorks (https://capitalatlas.ai/funds/appworks) — Series B, Series C
- Omidyar Network (https://capitalatlas.ai/funds/omidyar-network) — Series C
- Ohana Holdings — Series C
- MUFG Innovation Partners (https://capitalatlas.ai/funds/mufg-innovation-partners) — Series C
- PayPal Ventures (https://capitalatlas.ai/funds/paypal-ventures) — Series C