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PayPal's venture capital arm has made a significant investment in the Jakarta-based insurtech startup Qoala, contributing to a $47M Series C funding round despite the firm being in the red. This investment round was co-led by PayPal Ventures and MassMutual Ventures, highlighting the strong interest from major financial players in Qoala's potential. The funding boosts Qoala's total capital raised to over $130 million. The firm operates an online personal insurance marketplace, aiming to expand its services and market reach.
No profit, no problem: Why VCs poured US$47 million into loss-making Qoala https://t.co/HHgDXQYDOe
Jakarta-based online personal insurance marketplace Qoala raised a $47M Series C co-led by PayPal Ventures and MassMutual Ventures, for $130M+ in total funding (@refsrc / TechCrunch) https://t.co/nRfK9jh6sX 📫 Subscribe: https://t.co/OyWeKSRpIM https://t.co/FyEmgYYiR4
PayPal backs Indonesian insurance startup Qoala in $47M funding: https://t.co/4lKoub6I0P by TechCrunch #infosec #cybersecurity #technology #news
