Indonesia's PasarPolis bags $54m Series B from LeapFrog Investments, others

Photo: PasarPolis

Indonesia-based insurance technology company PasarPolis has closed a $54 million Series B funding round backed by financial services investors LeapFrog Investments and SBI Investment, VC firms Alpha JWC and Intudo Ventures, as well as the Chinese consumer electronics giant Xiaomi.

The company’s Series A investor Go-Ventures, the VC arm of the Indonesian ride-hailing company Gojek, also participated in the round, PasarPolis said in a statement on Wednesday. The oversubscribed round marks the largest Series B funding for an insurtech firm in the Southeast Asian region, the statement added.

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