Insurtech Qoala raises USD47m, led by PayPal Ventures, MassMutual

Insurtech Qoala has successfully raised USD47m in a Series C funding round, led by PayPal Ventures and MassMutual Ventures, with participation from MUFG Innovation Partners, Ohana Holdings, Flourish Ventures, Eurazeo, and AppWorks. The funds will fuel Qoala’s expansion across Southeast Asia and enhance its technology-driven services, including the integration of AI to improve customer, agent, and partner experiences. Additionally, the investment will help develop new products and channels for its agent platform. Founder and CEO Harshet Lunani highlighted the funding as a testament to market confidence in Qoala’s mission to democratise insurance. PayPal Ventures’ Alexandros Bottenbruch praised Qoala’s efforts in addressing the insurance protection gap in Southeast Asia.