Malaysia-based tech-enabled insurance platform Ouch! has secured RM5 million (US$1.2 million) in strategic funding from PPB Ventures.
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The business plans to use the funds to improve its technological infrastructure, increase its market share, and stimulate product innovation.
A minor portion of the additional cash will also be set aside as reserve capital to support the DITO license procedure and enable BNM’s Sandbox testing.
Later this year, the company intends to launch a second funding round to fulfill the minimum capital requirements for the DITO license. The Ouch! test is designed to help you understand your protection needs so you can make sure you’re covered in the event of an emergency.
With Ouch! Pusara Pro, you can afford to protect your life and your sanity. Our product provides life protection up to RM500,000 and starts from as low as RM4.13/month. No agents, no complex jargon, and no unnecessary add-ons.
“The sandbox extension and DITO license will both be major game-changers, enabling us to offer even more personalized and accessible Takaful solutions for Malaysians,” CEO Shazy Noorazman said.
Ouch! started in 2018 to reinvent the way takaful/insurance is approached in Malaysia. Ouch! app lets you understand your coverage needs, purchase your first policy, and even make claims. No agents, no complex jargon, and no unnecessary add-ons.
About Ouch!
Founded in October 2018 in Kuala Lumpur, Ouch! is Malaysia’s First Digital Takaful for today’s generation. Ouch! Provides simple takaful life protection for the new generation. No agents, no complex jargon, and no unnecessary add-ons. Its flagship takaful product, Pusara Pro, makes getting protected a breeze!
Ouch! Pusara Pro provides peace of mind for you and your family without any unnecessary financial burden. It is your solution to takaful life coverage without costly monthly charges that put a strain on your budget.
