PolicyStreet Raises Series C Funding
PolicyStreet, an insurtech company based in Malaysia, has recently closed a Series C funding round, securing an undisclosed amount. The round was led by Cool Japan Fund, with participation from existing investors Altara Ventures and Gobi Partners. PolicyStreet specializes in offering online car insurance options in Malaysia, providing comprehensive and third-party fire and theft coverage that users can renew easily and securely.
Leadership and Growth
The company, co-founded by Yen Lee, who also serves as CEO, and Winnie Chua, the Principal Officer for Polisea Labuan, has been on a significant growth trajectory. "The participation of Cool Japan Fund brings the number of sovereign wealth fund backers to two," said CEO Yen Lee, highlighting the increasing confidence in embedded insurance within Asia's digital economy.
PolicyStreet has demonstrated robust growth, reporting a profit of over $1 million for the financial year 2025. The company has doubled its customer base, now serving over 10 million users, and increased its total sum insured from $6 billion to more than $10 billion.
Strategic Use of Funds
The newly raised capital will be directed towards supporting PolicyStreet's regional expansion plans and enhancing its technology infrastructure. The company aims to strengthen its partnerships across Asia, positioning itself to better serve the growing digital economy. Discussions with additional investors are ongoing as part of this Series C fundraising process, aligning with the company’s long-term strategy.
Investor Confidence
Cool Japan Fund's involvement underscores the strategic interest in PolicyStreet's potential within the region. This investment aligns with Cool Japan Fund's broader objectives of supporting innovative firms that contribute to digital economic growth. Meanwhile, Altara Ventures and Gobi Partners have reiterated their support, citing PolicyStreet's impressive growth and strategic execution as key factors for their continued investment.
PolicyStreet continues to solidify its position as a key player in the insurtech sector, leveraging this funding round to further its mission of simplifying insurance processes for consumers in Malaysia and beyond.