Insurtech Igloo extends Series B funding round at $46m

It initially raised $19m.

Asia-focused insurtech Igloo has closed its Series B funding round at $46m after raising an additional $27m from a consortium of impact investors.

The initial Series B capital raise of US$19M in March this year was led by Cathay Innovation, with further investments from ACA and other existing investors including OpenSpace.

The extended round was led by BlueOrchard, Women’s World Banking Asset Management (WAM)and Finnfund. The InsuResilience Investment Fund II, initiated by German development bank KfW on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ) and managed by impact investor BlueOrchard Finance Ltd., led the capital extension, along with WAM, Finnfund, La Maison, and Series B lead investor, Cathay Innovation.

The company said it plans to double down on attracting the best engineering, product, design and data talent across all geographies. Igloo is also in the process of identifying and closing on various M&A opportunities to help it move swiftly towards its vision for ‘Insurance for All’.