The new funding will go towards both horizontal and vertical mergers and acquisition opportunities. The company will also increase its workforce by 20% across engineering, commercial, strategy and insurance-focused verticals.
Singapore-based insurtech firm Igloo has closed a US$36 million ($48 million) pre-Series C funding round at an increased valuation of 50% from its Series B+ round in 2022 as the company moves closer to profitability.
Global investment firm Eurazeo — through its BNP Paribas Cardif-backed insurtech fund — led the round while previous investors Openspace and La Maison returned. The round brings the total amount raised by Igloo to US$100 million.
