InsurTech startup Ouch! said to raise $364,600 in funding

Malaysia-based InsurTech Ouch! has reportedly raised $364,600 in a funding round that will better position it for growth.

The round was supported by Vynn Capital, Temokin and a number of unnamed angel investors, according to a report from Digital News Asia.

Capital from the investment will be used to increase its product development efforts and prepare for its growth. Over the coming year, the InsurTech plans to improve the platform and services, and building new features.

Ouch! is an online insurance platform that enables consumers to get the right life, health, home, motor and travel insurance for them. The mobile app also lets users manage their policies in a single location.

Its insurance partners include AXA, Allianz General and Berjaya Sompo.

Earlier this year, fellow Malaysian FinTech platform microLEAP closed a $3.26m investment from MAA Group. The capital was raised to support advertising, promotions, hiring staff and technology enhancements.

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