BlueOrchard adds USD 5 million to PolicyStreet’s Series C round
PolicyStreet has secured an additional USD 5 million investment from BlueOrchard through the InsuResilience Investment Fund, bringing the Malaysian insurtech company’s Series C funding round to USD 26 million.
BlueOrchard, part of Schroders Group, joins PolicyStreet’s existing backers, including Khazanah Nasional, Cool Japan Fund, Altara Ventures, and Gobi Partners.
Founded in 2017, PolicyStreet provides digital insurance services to businesses and consumers across Asia and Australia. It works with more than 40 insurance and takaful, or Islamic insurance, providers, embedding coverage into the products and services of partner platforms. The company said it has served more than ten million customers, facilitated more than USD 10 billion in total insured value, and reached more than 50,000 small and medium enterprises directly and indirectly.
PolicyStreet will use the new capital to support regional growth, strengthen its technology, expand its embedded insurance partnerships, and develop products for underserved consumers and businesses. It aims to serve 1.5 million gig workers and 300,000 small businesses by 2030.
