Singapore Headquartered Insurtech startup Symbol Platform Holdings has raised $9.4 million in series A round funding led by CreditEase Fintech Investment Fund, and Think Investments.
The round also saw participation from its existing investors Integra Partners, Insignia Ventures, and AJ Capital.
“With the proceeds of this round, Symbo intends to continue investing in its core technology and leadership team to bring its offerings to scale,” the company said.
“The key areas of investment will be recruitment across technology and product functions along with senior business development hire in Singapore, Malaysia, Indonesia, and a large proportion of the funds has also been earmarked for investment into Symbo’s Indian affiliate,” it added.
Speaking on the investment, Anik Jain, Co-founder & CEO of Symbo India Insurance Broking (“SIIB”) said, “Our vision and mission is to be an innovative insurance business providing best-in-class claims, consulting, and buying experiences to our customers and partners. The funding will be used to strengthen our technology and expand our agent and partner footprint so we can continue to drive insurance penetration in the country.”