Malaysia Digest: PolicyStreet raises $1.8m Series A; CapBay partners TheLorry 

Malaysia’s insurance technology company PolicyStreet has raised $1.8 million in its Series A round while peer-to-peer financing platform CapBay has partnered with the online logistics platform TheLorry.

Malaysia’s PolicyStreet raises $1.8m Series A

Malaysia insurtech company PolicyStreet said Monday it has raised a total of $1.8 million in its Series A round led by return backer KK Fund and joined by Spiral Ventures. The startup also secured funding through the equity crowdfunding platform, PitchIn, as part of the round.

The insurtech company aims to use the funds raised from this round to sharpen its technological capabilities, boost sales and marketing activities and expand into new markets.

In 2019, PolicyStreet obtained the financial adviser and Islamic financial adviser approval from the Central Bank of Malaysia to work with over 35 insurers and offer more than 1,000 insurance products. 

P2P platform CapBay partners with TheLorry 

Malaysia’s peer-to-peer platform CapBay has partnered with online logistics platform TheLorry to launch the express financing programme for SME lorry drivers. 

The facility is aimed to boost access to digital financing solutions for the financially underserved SMEs. Through the collaboration, CapBay can access over 10,000 driver-partners on TheLorry platform.

CapBay (formerly CapitalBay) is a multi-bank supply chain finance and P2P financing platform in Malaysia. 

Founded in September 2014, TheLorry is an online logistics platform with operations in Singapore, Malaysia, Indonesia and Thailand. Its investors include KK Fund, Unilever, First Floor Capital, PNB-Inspire, CSV, ADIF and SPH Ventures, among others.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.