Lifepal, an Indonesian digital direct-to-consumer (D2C) insurance marketplace, announced it has raised an oversubscribed US$9 million Series A funding round, bringing the total capital raised to US$12 million.
The funding round was led by ProBatus Capital with participation from Cathay Innovation, Insignia Ventures Partners, ATM Capital and Hustle Fund.
Lifepal said that it will use the new financing to improve its product and customer experience.
The firm was founded in 2019 by former Lazada executives Giacomo Ficari and Nicolo Robba, as a one-stop platform offering over 300 policies across health, life, automotive, property, and travel.
Lifepal reportedly has more than 50 insurance partners which include some of the region’s largest players.
Giacomo Ficari
“We have entered the market at an exciting time: consumer behaviors are shifting online and we have the rare opportunity to continue to scale our traffic & branding to become the dominant online destination for consumers for the years to come.
We look forward to partnering with our new investors that share the same long-term vision and passion for insurance and best-in-class customer experience.”
said Giacomo Ficari, Founder and CEO of Lifepal.
Featured image: Lifepal’s team
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