Fuse raises $25 million
Indonesia-based digital insurance application Fuse Pro raised $25 million in an extended series B round of funding that included East Ventures (Growth Fund), GGV Capital, eWTP, and Emtek. To date, the company raised $55 million.
Founded in 2014, Fuse offers a platform that connects various insurance products from ‘many’ insurance companies with multiple distribution means, channels, or partners. The platform support primarily 3 business models, namely Business-To-Agents/Brokers (B2A), Business-To-Customers (B2C), as well as Micro Insurance (B2B2C).The Fuse Pro App is tailor-made for B2A business, enabling ‘anyone’ to become an independent insurance consultant.
The company claims to partner with over 30 insurance companies to offer more than 300 products, which Fuse offers both directly to end consumers and through the over 60,000 agents on its platform. Partners include Allianz , Zurich , Generali , Sompo Insurance Singapore , among others.
Fuse plans to use the funds to expand to more countries in Southeast Asia.