Qoala has successfully raised $47 million in a Series C funding round led by PayPal Ventures and MassMutual Ventures, with contributions from MUFG Innovation Partners, Ohana Holdings, Flourish Ventures, Eurazeo, and AppWorks.

This funding aims to expand Qoala’s embedded insurance services across Southeast Asia and improve its technology, particularly by incorporating artificial intelligence (AI) to benefit customers, agents and partners.

The investment will also fund new product development, strategic acquisitions, and partnerships, strengthening Qoala’s regional market dominance. Following notable growth and increased customer satisfaction since its 2022 Series B round, Qoala’s financial health continues to improve. This new funding, pushing Qoala’s total capital to over $130 million, will further advance its technology use and operational efficiency.

Featured image: Credit: Qoala