Thai InsurTech Roojai has secured $60m in new funding, with Apis Partners and Asia Partners leading the Series C round in a move aimed at boosting the firm’s regional expansion.
The company raised the funds to support ongoing expansion in Thailand and Indonesia while enabling strategic acquisitions that will strengthen its product suite and operational capabilities, according to FinTech News Singapore.
Commenting on the raise, Roojai co-founder and CEO Nicolas Faquet said, “Apis and Asia Partners bring deep and hands-on growth expertise. They will strengthen Roojai’s ability to continue its path of disciplined growth, product innovation, and facilitate our mission to bring straightforward and fair insurance to more customers throughout Southeast Asia.”
Roojai operates a fully digital model within the InsurTech sector, offering consumers streamlined access to coverage through its technology-driven platform.
Alongside motor insurance, its portfolio includes health, personal accident and travel insurance, with Indonesia becoming a growing focus of its regional strategy.
The latest funding will also help the firm develop its underwriting approach, which focuses on assessing individual customers rather than vehicles. Supported by risk-based segmentation, this method aims to deliver more competitive pricing, clearer premiums and faster customer service.
Roojai additionally provides instalment payment options to improve affordability and has introduced policy offerings tailored to electric vehicles.
The tranche received continued backing from existing shareholders HDI International, Primary Group and the International Finance Corporation, all of whom participated in the round.
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