Malaysian insurtech firm PolicyStreet has raised MYR84 million (US$21 million) in the first close of its Series C round, marking Malaysia's largest insurtech funding round to date.
The round was led by Cool Japan Fund, with participation from existing investors Altara Ventures and Gobi Partners. This marks Cool Japan Fund's participation alongside Khazanah Nasional as PolicyStreet's second sovereign wealth fund backer.
PolicyStreet reported over US$1 million in profit for financial year 2025. The company's customer base grew from 5 million to over 10 million, and total sum insured increased from US$6 billion to more than US$10 billion since its previous funding round.
The capital will support regional expansion across Asia, enhance technology infrastructure, and strengthen partnerships across sectors including mobility, travel, logistics, telecommunications, and gig economy platforms. PolicyStreet targets doubling its revenue in 2026.
Cool Japan Fund's Kenichi Kawasaki stated PolicyStreet addresses digital commerce challenges by building a sense of security and assurance through its embedded insurance model.
Source: TNGlobal
