PayPal Invests $47M in Indonesian InsurTech Startup Qoala
PayPal Ventures’ latest investment is in an Indonesian startup that provides personal insurance products covering a variety of risks, including accidents, phone screen damage, and ticket cancellations.
Qoala has secured $47 million in a new round co-led by PayPal Ventures and MassMutual Ventures, the five-year-old startup said Wednesday.
Qoala, headquartered in Jakarta, is an insurance broker that works with top local insurers and e-commerce firms to offer customers personalized and affordable products.
The startup sells these insurance both through its website and app as well as through offline engagements.
“It is commendable to see what Qoala has achieved in a short period of time,” said Alexandros Bottenbruch, Principal at PayPal Ventures in a statement.
