Igloo Revenue Rises 46% to $63M as Singapore Insurtech Expands

Singapore-based insurtech company Igloo reported revenue of S$80.9 million (US$63.3 million) for 2025 up 45.9% from the previous year. The growth was driven by the company’s expansion of embedded insurance services across Southeast Asia.

Igloo provides digital insurance technology that allows businesses to offer insurance through their existing platforms. Its solutions are used across e-commerce, telecommunications, financial services and logistics.

The company also reduced its net loss to S$8.6 million (US$6.73 million) in 2025 compared with S$21.8 million (US$17.1 million) a year earlier. Igloo said its operating expenses remained broadly stable and its headcount was unchanged.

Igloo Targets Profitability

Igloo is targeting adjusted EBITDA breakeven by the end of 2026. The company plans to achieve this without significantly increasing its operating expenses.

Its technology is also being used to improve insurance operations through artificial intelligence. Igloo says AI can help speed up product development, risk assessment and claims processing. The company has been building AI capabilities across the insurance value chain.

Expansion Across Southeast Asia

Igloo works with insurance and distribution partners across Southeast Asia. Its embedded insurance model allows customers to access protection products while using other digital services.

The company has also expanded through partnerships and acquisitions. In June 2026, Igloo acquired Singapore based insurtech Eazy Digital to strengthen its presence in Thailand and expand its insurance technology offering.

Eazy Digital provides technology for insurers and brokers to manage agents, improve sales and streamline operations. Its platform supports more than 20,000 agents and facilitates millions of insurance policies each month.

Igloo has also partnered with companies such as Telkomsel to distribute insurance products through digital channels.

About Igloo

Founded in 2016, Igloo is a Singapore-based insurtech company focused on digital and embedded insurance. The company was co-founded by Wei Zhu and Raunak Mehta with Mehta serving as CEO.

Igloo has raised more than $100 million from investors including Eurazeo, Openspace Ventures, Cathay Innovation and BlueOrchard.

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