Thai digital insurer Roojai has raised US$60 million in a Series C funding round led by Apis Partners and Asia Partners.
The round also included participation from existing investors, including HDI International, Primary Group, and the International Finance Corporation.
Roojai, founded in 2015 by CEO Nicolas Faquet, has established a strong presence in Thailand’s online motor insurance market.
The company has since expanded into health, personal accident, and travel insurance, and is now beginning to grow its operations in Indonesia.
The new funding will help Roojai expand in both Thailand and Indonesia and support strategic acquisitions.
Roojai operates using a direct distribution model in an industry traditionally dependent on intermediaries. It underwrites individual customers rather than vehicles, using a risk-based segmentation approach that allows for more competitive pricing.
This model provides clearer pricing, faster service, and higher customer satisfaction. Roojai also offers installment payment options to make insurance more affordable and has created policies specifically for electric vehicles.
Nicolas Faquet, Co-Founder and CEO, Roojai, 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.”
Read more- ComfortDelGro Partners with Hello Robotaxi to Launch Services in China and Abroad
