Malaysian InsurTech startup PolicyStreet has reported raised about $1.8m in a Series A round led by KK Fund.
According to Beamstart, the round was the biggest funding round raised via equity crowdfunding in Malaysia. It was raised on the crowdfunding platform PitchIN.
“We are grateful and thankful to have the support of KK Fund, Spiral Ventures and 274 angel investors who believed in our business and saw our potential,” said Lee Yen Ming, co-founder and CEO of PolicyStreet. “We have undeniably attracted very notable and sophisticated investors from board members of listed companies, executive directors, C-suites, vice presidents and many others whom we will be looking up to for guidance and advice leveraging on their respective experiences.”
The news comes after FinTech investment in Australasia has more than tripled since 2015. Between 2015 and 2019, the annual investment injected into the FinTech industry in the region jumped from $481.6m to $1.56bn, according to FinTech Global’s research.