Singapore-based health insurance platform UEX has closed a SGD 1.3m ($983,580) seed funding round from VERSPIEREN.
UEX is an online health insurance platform for both individuals and SMEs, offering quick and easy access to new policies. SMEs can acquire appropriate insurance policies to cover employees if any risks, or a commercial product to protect the business and work tools.
For individuals, the company can provide personalised health insurance policies within a few clicks.
Part of the funds from the seed round will be used to develop its product and increase its health insurance products.
UEX CEO and founder Grégoire Rastoul said, “Health insurance is the main focus of our InsurTech. We want to reconnect the dots between the coverage offered by the employer with a potential insurance top-up by the employees.”
Singapore’s FinTech sector has seen a very strong start to the year for funding. Last week, fellow Insurance platform Axinan closed a Series A funding round led by NSI Ventures. The company uses machine learning and big data to build accurate risk assessments.
Vouch Insurtech also closed an investment this month, bagging $759k from investors including Nogle Capital Management and GREE Ventures.
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