Thailand-based digital insurer Roojai has secured $60m (Bt1.93bn) in a joint investment from Apis Partners Group and Asia Partners as part of its series C funding round.
The funding will be used to expand activities in Thailand, increase scale in Indonesia and explore further mergers and acquisitions (M&A) opportunities.
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Apis Global Growth Fund III and Apis Growth Markets Fund III, managed by Apis Partners Group, co-led the investment along with Asia Partners.
The round also saw participation from existing shareholders including HDI International, International Finance Corporation and Primary Group.
Founded in 2015, Roojai is headed by CEO Nicolas Faquet.
The company began as a provider of online motor insurance in Thailand. Its services have since grown to include health, personal accident and travel insurance.
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By GlobalDataRoojai’s digital platform enables users to receive tailored quotes, adjust coverage, submit claims digitally and manage payments.
Roojai entered Indonesia’s market in 2022 through the acquisition of Lifepal, an insurance comparison website.
In 2023, Roojai purchased FWD General Insurance Thailand from Boltech, rebranding it as Roojai Insurance in 2024. This move established Roojai as a full-stack digital insurer focusing on retail products.
The group now comprises several entities: Roojai Insurance (Thailand), offering general insurance; Roojai Indonesia (Indonesia), acting as a managing general agent for general insurance products; MrKumka (Thailand), an online comparison broker for car insurance; and Lifepal (Indonesia), providing comparison services for general insurance.
Roojai applies a person-focused underwriting approach and offers premium discounts for drivers with safe records.
The company also provides specific policies for electric vehicles (EVs) designed to encourage sustainable mobility and support the adoption of EVs in South East Asia.
Faquet said: “Apis and Asia Partners bring deep and hands-on growth expertise. They will strengthen Roojai’s ability to continue its path of disciplined growth, product innovation, and facilitate our mission to bring straightforward and fair insurance to more customers throughout South East Asia.
“We also deeply appreciate the continued support of our existing shareholders, all of whom joined this funding round and reaffirmed their confidence in Roojai.”
