By Jon Russell
It’s almost unheard of to see three unicorns join forces to fund a startup, but that’s exactly what has happened in Indonesia.
Ride-hailing company Go-Jek, e-commerce firm Tokopedia and travel booking startup Traveloka — each of which is valued in the billions of U.S. dollars — have come together to provide a Series A funding round for PasarPolis, a digital insurance startup in Indonesia aiming to tap Southeast Asia’s growing internet economy.
PasarPolis started out as an insurance comparison site but today it offers micro- and modular-insurance online. Go-Jek, Tokopedia and Traveloka are three of its major clients through which it offers ‘click box’ policies that are bundled with ride-hailing trips, e-commerce sales and travel deals.
The round itself is undisclosed but TechCrunch understands that it is in range of $5-8 million, as was earlier reported by Deal Street Asia.
PasarPolis founder Cleosent Randing told TechCrunch in an interview that the deal was strategic and aimed at developing new products with the three companies, which he estimates provide “access to 100 million insurable hits per month.” He said that the startup could be picky because it is already cash flow positive.
“We were very …read more
Source: Tech Crunch