Indonesia-based insurance technology company Fuse has raised “a couple of million” US dollars in its Series A funding round.

The funding round was also joined by EV Growth.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The company, which is licenced by the Financial Services Authority of Indonesia, plans to use the money to launch its services in multiple Indonesian cities, online tech publication Tech in Asia reported.

It aggregates over 200 insurance offerings in collaboration with 30 local and international insurance firms.

Through its app, the company offers insurance products for vehicle, property, travel, health, term life and critical illnesses.

It also offers digital insurance products that offer cover for gadgets, cargo liabilities, and credit default insurance, among others.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Fuse chief operations officer and co-founder Ivan Sunandar told Tech in Asia that the company aims to increase its partner base to 100,000 from 15,000 next year.

“In the past two and a half years, we have already launched more than 80 app versions, 200 back-end versions in order to customize the need for our partners for different insurance products or companies,” Sunandar added.

Presently, Fuse operates three business models. Business-to-consumer insurance comparison site is one such model.

In collaboration with eCommerce platforms, the company also offers micro insurance plans for customers.

Fuse Pro, their latest app, allows insurance agents to offer multiple insurance products to clients, delivering real-time calculation and quick commissions payment.