Uncharted, which is building a SaaS-based infrastructure and distribution platform for brokers and carriers, has bagged SGD $8m ($5.8m) in a Series A funding round.
This capital infusion will support the InsurTechâ€™s continued expansion efforts across Asia Pacific, Europe and North America. It will also help the Singapore-headquartered startup with the development of its product, technology and data analytics capabilities.
The funding round comes just a month after Uncharted acquired Shift insurtech, an insurance technology developer for brokers and carriers. This acquisition saw the Shift team join Uncharted.
Uncharted empowers clients to access a real-time comparison and underwriting engine, customisable front-end sales solutions, optimised onboarding, automated quoting and improved marketing.
Uncharted Founder and CEO Nick Macey said, â€œAs we continue to invest in our engineering and product teams in Singapore, our clients are looking for us to deploy our technology in their regional and global markets. This momentum is testament to the Insurtech opportunity and the ability for modern technology to drive the innovation needed in the global #insurance market.â€
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